Azets, the UK’s largest regional accountancy firm and business advisor to SMEs, provided corporate finance advice to the shareholders of Stormking Windows on its sale to Countrywide Property Group Holdings Limited for an undisclosed sum.
Stormking Windows have been providing quality products and service since 1992 – under the leadership of founding partners David Taylor, Nigel Thompson and Neil Clarey. The company, based in Bishop Auckland, has changed and evolved over the years and continues to remain highly competitive in the uPVC marketplace.
The business started as a manufacturer supplying uPVC doors, windows and conservatories to the trade. As with many other businesses Stormking has changed with market trends, retaining its core business but adding on services where the partners saw gaps in the market.
Today, Stormking not only makes uPVC products but also provides a full installation service. This is a side to the business which is increasingly in demand as word-of-mouth recommendations bring in more business.
The departing shareholders will exit the business and retire. All of the staff will be retained.
Graham Cornforth, Corporate Finance Partner at Azets in the North East led the deal and was supported by Matt Waters, Corporate Finance Manager. David Adams at Knights provided legal advice to the vendors assisted by Oliver Hebdon. Craig Malarkey at Swinburne Madison provided legal advice to the acquirors.
Nigel Thompson, Owner and Director at Stormking said:
”We have received terrific support from Graham, Matt and the team at Azets who’ve advised us and have helped us navigate and negotiate the transaction. We appreciate the dedication of the team in managing a smooth process throughout and delivering a successful transaction”
Matt Waters, Corporate Finance Manager at Azets in the North East said:
“It’s always good to see strong, long-established businesses move into new hands to enable a new chapter of growth. We were delighted to advise the shareholders on the sale to Countrywide Property Group Holdings Limited.”
“The home improvements market has boomed during the pandemic and the new owners will be well placed to take advantage of this as the demand for people ‘improving not moving’ increases.”
Graham Cornforth, Corporate Finance Partner at Azets in the North East added:
“It’s credit to the enterprise of the North East business community that our teams remain so active. Our outlook for 2022 is very optimistic, we’ve got a strong pipeline secured as the North East deals market remains buoyant. We have plans to grow the team to take advantage of the thriving deals market and the investment coming into the region.”