Completion of investment into AluFold Direct - October 2019

Founded in 2013 by husband and wife, Craig and Lorraine Miller, AluFold manufactures a leading range of aluminium bi-fold and sliding doors, windows and roof lanterns, supplying to installers for residential and commercial end users, and primarily operating in the home improvement market

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Based in Blackburn, the business has grown significantly since its founding. Revenue and EBITDA have grown in excess of 25% per annum in the last three years. The home improvement market has seen increasing levels of popularity for aluminium products due to the material’s superior levels of sustainability and durability compared to plastic-based alternatives, in addition to the shifting of aesthetic and design preferences towards aluminium

 

We are excited to work with Craig, as he moves from Managing Director to Chairman. We will look to further strengthen the existing team, with the appointment of a new CEO and CFO in early 2020, while also expanding capacity with a second manufacturing site, to enable the business to take advantage of the high levels of demand in the market. He will remain a significant shareholder and investor alongside Literacy

 

The transaction involved senior debt financing provided by OakNorth Bank and Sentio Corporate Finance as sell-side advisors

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