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Macdonald Henderson Advises on the MBO of Scotia Double Glazing - 3rd December 2014 - Click for larger version Macdonald Henderson Advises on the MBO of Scotia Double Glazing - 3rd December 2014

Macdonald Henderson has advised the management team in the £2.15m management buyout of Ayrshire-based Scotia Double Glazing.

Leading the buyout was Robert McKnight, finance and operations director at Scotia, which was founded in Kilmarnock in 1983 with 10 staff and now has more than 155 employees.

Investors to the deal included UK Steel (which invested £500,000 in one of its biggest investments to date) and the management team, with RBS and RBSIF providing senior debt and invoice finance respectively.

The firm started out selling to domestic customers, but more than 15 years ago decided to start also working directly with major house-builders, supplying uPVC double-glazed window and door frames for new-builds, and this sector now comprises the biggest part of its revenues.

Its clients include Wimpey Homes, Stewart Milne Group, Bett Homes, Miller Homes, and Barratt Homes, and it plans to increase production from about 1,000 windows a week to 1,250 in the next two years, creating up to 22 new jobs.

Mr McKnight commented:

“From the outset Macdonald Henderson brought a first class level of service, advice and expertise to the deal. It was no simple task to co-ordinate the sources of funding and negotiate the various terms, but throughout the transaction we were impressed by the firm’s command of the legal processes. We’d have no hesitation in recommending the firm’s services to any parties considering a management buyout in the future”.

Macdonald Henderson is delighted to have advised the management team on this exciting deal which will help the company realise its ambitions to achieve continuous growth, predicting turnover of around £12m a year in the next four years.

Last updated: 8.54am, Wednesday 3rd December 2014

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