30 June 2020
Customade group acquired by Nimbus
Together with financing source Midcap Financial, Nimbus has agreed to buy the majority of the Customade Group out of administration and create a new group. The new group is made up of Virtuoso Doors, Norwich PVCu, Stonehouse PVCu, Real Aluminium, Atlas, Fineline Aluminium and Stevenswood.
This acquisition saves over 800 jobs and provides a strong footing for the acquired businesses to face the post Covid -19 economic pressures and pursue the new owner’s ambitious growth plans.
This transaction represents our second deal in the UK within the last 12 months. Alexander de Haas, commented “We are delighted to invest in the Customade Group. The business has market leading product and customer service proposition but has faced unprecedent challenges in the last six months. Our investment will allow the group to recover and focus on a long-term growth strategy which will include significant investment in the manufacturing capability of the group.”
The new group management team will be led by Chief Executive David Leng who added “We are delighted to have found an experienced investment partner in Nimbus to save the majority of the Customade business in these exceptionally difficult economic circumstances. We can now look forward to a much stronger and certain future.”
Please contact David Keenan for more information +44 7825 77 07 81