Alucraft Group is Ireland’s leading designer, manufacturer and installer of architectural glazing systems Elaghmore Partners LLP, the UK-based private equity firm, has acquired Alucraft Group (“Alucraft”). Founded in 1975, Alucraft is Ireland’s leading designer, manufacturer and installer of architectural glazing systems with offices and manufacturing facilities in Dublin and Tamworth, UK. During its 40-year history, Alucraft has earned a reputation for delivering first-class quality service to its customers and has provided the facades to many high-profile construction projects. In Dublin, these include the Vertium Building, the new headquarters for Amazon, the headquarters of Lidl Ireland and LinkedIn EMEA as well as No 1 Georges Quay and the National Rehabilitation Hospital. In the UK, Alucraft has worked on major buildings such as the Gateway Building at Salford University, Byron House in Nottingham and Tata Steel in Birmingham. As well as architectural glazing systems, it stocks, supports and advises on a wide variety of thermo-plastic products, daylight solutions as well as smoke and heat ventilation systems through its wholly owned subsidiary, Williaam Cox.
Alucraft is the fifth and largest acquisition made by Elaghmore so far from its initial private equity fund, Elaghmore I (Fund 1) which closed at the end of 2016, raising £60 million. The fund was oversubscribed, and the investors are a mixture of US and European institutions. The investment strategy of Fund 1 is focused on industrial businesses that present a significant opportunity for growth and value creation. Elaghmore will provide financial backing to deliver the next phase in Alucraft’s growth strategy, including expanding its UK operations to grow its market share and increase the opportunities for cross-selling between the different subsidiaries of the Group. As well as providing investment, Elaghmore will use its extensive contacts in the construction and housebuilding industry to help expand the customer base of Alucraft. Headquartered in Dublin, Alucraft Group employs nearly 200 people. It will continue to operate autonomously headed by Managing Director, Jack McHugh.
Alongside the Group’s staff and management team, he will lead the company in the next stage of its development. Andy Ducker, Founding Partner, Elaghmore, said: “Alucraft is a successful, profitable company which has built a market-leading position in Ireland manufacturing and supplying architectural glazing systems to some of the biggest property developments in the country. It has built its position on the quality of its work and the strength of its relationships with customers. Ireland is an exciting market with high-profile tech companies establishing headquarters there with more opportunities for Alucraft expected as financial services look to build operations in the country post-Brexit. We are excited about working with the talented team at Alucraft to help fulfil their ambitions.”
Commenting on the transaction, Jack McHugh, Managing Director, Alucraft said: “We are very excited about the future of Alucraft and the opportunities we see to expand the business both in Ireland and the UK. We chose to partner with Elaghmore, which has a strong record of supporting the growth of SMEs and providing non-executive expertise to add even greater value. We are looking forward to embarking on the next phase of our growth journey and building the capabilities required to expand our business, while continuing to deliver the high-quality products and services our customers are accustomed to.” Elaghmore was advised by the law firm, ByrneWallace and IBI Corporate Finance.
© 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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