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Dow Schofield Watts’s (DSW) transaction service team has provided financial due diligence to Praetura Commercial Finance on its recent MBO for Pearl Window Systems.
Founded by its existing owners, Jeff and Judith Walsh in 1998, Pearl Window Systems is one of the UK’s “leading fabricators and distributors of bespoke, design-led UPVc windows, doors and conservatory roof systems”.
The group comprises three separate trading entities: Pearl Window Systems Limited, Pearl Window Systems (UK) Limited and Pearl Glazing Systems Limited. In order to meet the needs of installers throughout the UK, Pearl operates from a 70,000 square foot fabrication facility in Westhoughton near Bolton.
This plant, combined with the group’s existing infrastructure and use of progressive fabrication techniques, allows Pearl to deliver circa 4,500 frames per week.
Jeff Walsh, the current managing director, saw an opportunity for a Management Buy Out (MBO), while continuing his involvement in the role of chairman.
Praetura Commercial Finance structured and delivered a funding package to support the MBO, comprising a “confidential invoice discounting facility, supplemented by a cash flow loan, maximising the availability of working capital headroom”.
Sophie Colloby of DSW’s transaction services team in Leeds provided financial due diligence to Praetura on the deal.
