Door-Stop Acquired by Masonite International for $50 Million USDFebruary 24th, 2014 by Editor
Nottinghamshire, U.K.-based door manufacturer Door-Stop International has been acquired by Canadian trade buyer Masonite International Corp. for £30 million British pounds ($50 million USD) in a deal advised by Clearwater Corporate Finance.
Established in 2008, Door-Stop is a U.K. manufacturer and distributor of “ready-to-fit” composite exterior residential doorsets with an expanding nationwide customer base of trade fabricators, installers and specialist retailers. The business employs 200 staff and recorded revenue of £25 million British pounds ($42 million USD) in 2013. Door-Stop will remain trading as normal and all staff will continue in their roles at its facility in Huthwaite, North Nottinghamshire.
“Door-Stop’s products and service model are a natural complement to Masonite’s business,” says Gary Dutton MBE, chairman at Door-Stop. “Strong potential exists for the business in the form of continued organic growth, new markets and products, as well as through synergies and improved sourcing capabilities. Our employees and customers can look forward to capitalizing on these opportunities.”
Clearwater’s managing partner Phil Burns and partner Rob Britton advised Door-Stop’s shareholders on the sale of the business.
“The transaction allows Masonite to strengthen its global manufacturing network and provides a gateway into the U.K. composite entrance door market,” says Burns. “Door-Stop has shown good growth over five years and the business is a clear leader in its sector.”
Mark Hughes and Gavin Cummings at Browne Jacobson provided legal advice.