Roof Maker Acquired For £30m

I’m going to stop predicting the end of the industry’s M&A cycle. I’ve been proved wrong. Again!

It is being reported by Fenestration News that Leicester-based Roof Maker Ltd has been acquired by private equity fund managers New Wave Partners LLP in a significant £30m deal.

This is the statement that has been released:

“When we founded the business, our goal was to produce products and service that we would want from a supplier ourselves” commented Rachel Owen.

“Rachel and I have really enjoyed building up Roof-Maker over the last 15 years into the leading manufacturer and supplier of rooflights in the UK” said Scott Nicholas “However, we recognized that the time was right to find a strong partner with experience of growing businesses such as ours, in particular developing export opportunities. We are very excited about the future and looking forward to working with the NWP team, Pricoa and the Roof-Maker management team over the coming years to achieve more success together.”

“Roof-Maker is a fast growing vertically integrated omni-channel retailer of premium, high performance rooflights, skylights and bifold doors to the fast growing UK market. In a market underpinned by government legislation surrounding CO2 emissions and our desire for greater natural light (and space) in our homes, Roof-Maker offers bespoke products with superior thermal insulation and solar gain efficiencies delivered to site within days of being ordered.” said Dean MacKenzie, Partner of NWP.

“It is a pioneer in its market and primarily sells direct to end-users undertaking home improvements and renovations across the UK. We were impressed with the degree to which the business has harnessed the internet to drive sales, thereby disrupting and bypassing traditional and established routes to market and its leading social media presence. The business enjoys one of the highest Trustpilot ratings across the entire building products sector.”

“We are delighted to have been able to invest in such a great company and are excited by the opportunity to work with the management team to take the business to the next level.”

“Roof-Maker has been an amazing success story and we want to build on that success moving forward.” said Paul Mildenstein, CEO.”With Next Wave Partners and Pricoa’s support, I feel very confident we have found the right partner to grow the business domestically and internationally.”

Deal shows potential of sector

Within the rapidly expanding lantern roof and sky light market, this is a big deal. And more than just in the monetary sense.

£30m is a good deal of money for a fabricator that specialises primarily in lantern roofs. Roof Maker does fabricate bi-folding doors and flat roof lights too, but lanterns are their staple.

They have been around since 2001. So they have been around at the beginning of the birth of the market, to today where the lantern and skylight roof sector is one of the most aggressively growing sectors within UK fenestration.

Not only is this a good deal for Roof Maker, with backing from a private equity firm with a good track performance. But good for the sector as a whole. Despite uncertain economic outlooks and predictions, this deal is a good sign that the glass roof market, and wider fenestration market, continues to show strength and resilience. Given the extremely competitive nature of this part of the market, I would say that further deals are a possibility in the future.

In the long term, the lantern roof market still show massive growth potential. Areas such as existing conservatory refurbishment, flat roofs and brand new glazed extension installations, provide a huge potential for this sector to attack. Companies fabricating and installing lantern roofs and skylights should be looking to cash in on this rising popularity over the next five to ten years.

I’m sure the industry will wish both parties well in this endeavor.

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