UK private equity fund Elaghmore has acquired English Architectural Glazing Limited (EAG), one of the UK’s leading construction contracting businesses. Founded in 1985, EAG specialises in complex and dynamic building facades and is at the forefront of the envelope cladding sector. Elaghmore has acquired the business from its existing management team who will remain with the Company. EAG provides envelope cladding packages to an established base of long-standing clients including Stanhope, Kier, BAM and Skanska. EAG operates from three sites in Attleborough (Norfolk), Mildenhall (Suffolk) and Cannock (Staffordshire), employing 125 people.
The business is focused on London and the South East and works in a variety of sectors including retail and leisure, commercial, residential, healthcare, and education. Projects have included Great Ormond Street Hospital, Wimbledon Centre Court, DLR Station City Airport, The London Stadium Transformation, BBC TV Centre conversion, Intercontinental Hotel Park Lane, London School of Economics and numerous high profile residential and office projects in the capital. Elaghmore will work closely with EAG’s highly experienced management team and provide support to help them capture a number of significant opportunities in the market. There is a growing demand for the products and services EAG offers in light of regulatory changes and the continued cost challenges in the construction industry.
Following the acquisition, EAG will expand its operations to increase the amount of work it can tender for as well as capitalise on the growing requirement for aluminium rain screen cladding and off-site unitised cladding manufacture. EAG is the eighth-acquisition made by Elaghmore from its initial private equity fund, Elaghmore I (Fund 1) which closed at the end of 2016. The fund is now more than 50 per cent deployed. The investment strategy of the fund is focused on businesses that present a significant opportunity for growth and value creation. Elaghmore has a strong track record over the past decade, investing in and successfully growing businesses.
Andy Ducker, Partner at Elaghmore, said: “EAG has a first-class reputation and track record, and is known as a high-quality contractor and manufacturer, offering excellent client service. With the operational support we can provide, the business has an exciting future, with a talented workforce that has a wide range of skills, knowledge and experience in design, engineering, manufacturing and fabrication. We look forward to working closely with the EAG team to grow the business.”
Commenting on the transaction, Simon Gladwin, Managing Director, EAG, said: “This is an exciting day for EAG, as we look to build the future and increase our client base. We are excited about working with Elaghmore, whose financial backing and operational expertise will help us to expand the business and capture the growing market demand for our products and services.”
© Elaghmore Advisor LLP
Elaghmore Advisory LLP is an Appointed Representative of NCM Fund Services Limited (FRN 183732) which is authorised and regulated by the Financial Conduct Authority
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