STEVENSWOOD, the Livingston-based window and door
manufacturer, has unveiled plans to open 12 new trade centres across the UK as it targets a sharp rise in turnover.
The firm aims to grow turnover by £10 million as it increases its geographic footprint and expands its range of products and services.
Stevenswood said it has seen significant growth since being acquired by Cairngorm Capital in November 2016, when it merged with trade suppliers Polyframe Trade Centres, Sameday Trade Frames and Truemans, and adding five new trade centres to its portfolio in 2018.
The firm, currently generating turnover of more than £35m and employing 180 workers, has been supported by Cairngorm which has provided access to capital, sector experience, and backing for a buy-and-build strategy.
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The firm, which says it is now one of the largest windows distributors in the country, said it was well prepared for Brexit and has no major supply concerns at this stage but that it is “evident that consumer confidence has been dented”.
The group is doing “everything within our power to manage stock correctly” and it does not anticipate “being hit worse than any competitors”.
The additional branches, the first of which are expected to be south of the Border, are expected to create 50 jobs in the next year. The company said its medium-term aim is to double the number of trade counters across the UK.
The growth programme will be led by Joe Trueman, the managing director appointed in 2017 following the Truemans acquisition.
Mr Trueman, above, said: “In the past year we have continued to fine-tune the business, expanding the product range available to our customers and creating the platform for future growth by investing in our infrastructure and systems.
"Going forward, our strategy will shift towards organic branch opening.
“In the coming months we will finalise new locations but expect the majority to open in the South of England.
"In addition, we will be looking to expand the range of services we provide our trade customers, using technology to make it easier to buy and collect our products.”
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Neil McGill, managing director of Cairngorm Capital, which has offices in both Edinburgh and London, said: “Stevenswood has grown into a key player in the sector and is one of the largest distributors of doors and windows in the country.”
Mr McGill, who also sits on the Stevenswood board, said: “Cairngorm Capital will continue to work with Stevenswood to help support growth by complementing the existing leadership team with our own network of industry experts.”
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