Swindon & Wiltshire News
Independent glazing fabricator and installer acquired by management team
Glazing firm Salisbury Glass has been acquired in a management buyout facilitated by accountancy and advisory firm Azets and Salisbury-based law firm Wilsons Solicitors.
Salisbury Glass is a leading independent manufacturer and installer of quality double glazed, replacement windows, doors, conservatories and secondary double glazing for domestic and commercial markets.
The business delivers projects across the UK with a specific focus on the South East and London. The domestic business primarily supports local customers with their glazing requirements, whilst the focus of the commercial business is the high-rise residential property market as well as the education, leisure and healthcare sectors.
Salisbury Glass’ commercial customers include prestigious, national developers, including Galliard Homes, Wates Construction, O’Shea, Balfour Beatty, and Regal Homes.
Operating from three properties on the Churchfields Industrial Estate in Salisbury, Salisbury Glass employs 126 staff. The purchase of the business by management preserves employment for all staff.
Established in 1952 by Doug Gower, Salisbury Glass quickly established a reputation for quality and this underpinned early growth. Doug was joined in 1965 by his eldest son Paul. In 1968, the business moved into larger premises on Gigant Street working opposite Gibbs & Mew Brewery. Doug’s second son Steve joined the company in 1969 and was later followed by siblings Mark and Jillian Gower in 1977 and 1981 respectively.
By 1982 the business was thriving, built on the original values of quality products and excellent customer service, so a larger premises was sought and it was decided to move to the Churchfields Industrial Estate. This triggered the retirement of Doug Gower and allowed Paul Gower to take over the business.
Salisbury Glass enjoyed continued success in the domestic market aligned with local builders, but there was an ever-increasing demand for commercial products with higher volume. Steve Gower oversaw steady growth of this department, forming many relationships with local authorities and Land Registry offices.
In 2006 Paul and Steve Gower retired and Mark Gower led a management buy-out that introduced Ian Paton, Christopher Grigg and David Naish to the team. Steady growth followed on both the domestic and commercial businesses, driven by quality and integrity and the ability to design and create bespoke solutions to address the most challenging requirements.
The business has remained in family ownership throughout its life and the recent management buy-out continues that tradition by retaining majority ownership within the Gower family. The ownership of the business has passed to Mark’s son Luke, Paul Thomlinson and David Naish.
Luke Gower commented: “The MBO was an opportunity for myself, Paul and David to facilitate the retirement of Mark, Ian & Chris after many years of long and loyal service to the business. It has also ensured that this remarkable and well-established family business is retained within the Gower family which is important to continue this enviable business heritage.
“We will continue to trade based on our unblemished reputation for many years to come, but with a renewed drive and passion to focus and build on our quality and service, whilst heading into the next chapter of the business’s history. We are genuinely humbled to serve our loyal team’s and thank them for all their support.”
Rob Holmes, corporate finance partner at Azets, said: “Having always lived in Salisbury, it has been a privilege to be involved in a transaction of such a prominent local business. This transaction highlights that there continues to be an appetite for M&A transactions of high-quality assets.
“I am delighted to have assisted the shareholders with this transaction and am sure that the business will go from strength to strength under the stewardship of the Gower family.”
Mark Cook, partner at Wilsons Solicitors, added: “We are very pleased to have supported the shareholders of such a long-established, independent Salisbury based business and to have been involved in this milestone transaction for Salisbury Glass.
“Mark, Chris, Ian and the wider team have built a fantastic business and this sale marks a pivotal moment in the company’s history. We wish the management team all the best for the future, and look forward to seeing the Salisbury Glass business continuing to thrive under their leadership.”
Mark said: “The guidance and advice given to us by the teams at Azets and Wilsons has been instrumental in the success of the sale.
“Rob and Mark assisted by their efficient respective teams were always approachable when advice was needed, both teams working so well together enabling a smooth and problem free sale. I would have no hesitation in recommending Azets and Wilsons Solicitors for any financial or legal work.”
Pictured: David Naish, Mark Gower, Luke Gower, Paul Thomlinson and Ian Paton
