Brownhills Investments receives £2.9m from BGF
Company to capitalise on growing popularity of glass with strategic acquisition of British glass processing firms
Brownhills Investments has secured £2.9m funding from the Business Growth Fund (BGF) to support the growth ambitions of its principal subsidiary Brownhills Glass – with the acquisition of Durham-based Peterlee Glass.
Formed in 2012 following the buyout of Brownhills Glass, the Walsall-based company specialises in processing bespoke glass for architects, builders, interior designers and private home owners – as well as providing independent double glazing manufacturers with glass merchanting services.
Brownhills Investments is run by executive chairman Nick Harrison – former group marketing and business development director of Fenner PLC and managing director of Fenner Dunlop – Mark Harrison and Tim Price. It currently runs operations in four UK locations, enabling it to offer a local service to customers with national requirements.
The business started Wiltshire-based Corsham Glass Centre in May 2013, and teamed up with Chelverton Asset Management in April 2014 to buy Crawley-based Tufwell Glass, who recently worked on the Shard and the Olympic park.
Processed glass suppliers and manufacturers Peterlee Glass was founded in the 1970s, and has built a reputation for quality and service having worked on heritage projects including Fenwicks of Newcastle, The Sage Gateshead and The British Museum.
In total, Brownhills and subsidiaries employ 120 people including glass technicians, designers, surveyors and installers – who use state-of-the-art technology to process glass to regulatory standards. Thanks to the growing trend for its use inn interior design and buildings, the glass market is estimated to have increased by four to six per cent in the last year.
Nick Harrison commented: “By scaling up, we are able to create efficiencies, reduce lead-times and support our customers in their requirements across the country. We’ve held Peterlee in high regard for a number of years and they share the same philosophies in how to go about business in the right way.
“BGF’s growth capital has afforded us the freedom to continue to expand. We wanted a financial backer that could offer long-term, flexible support without taking control, and BGF was able to fit that brief exactly.”
Gurinder Sunner, senior investment manager at BGF, said: “Brownhills management team has a clear growth plan, a stable track record and a wealth of business and sector experience. We have come to know the management team well and are delighted that our initial investment has already allowed them to expand into the North of England.”