DK Group completes acquisition GE Door Solutions
GE Door Solutions has been acquired by DK Group in a multi-million pound deal advised by KBS Corporate.
The deal sees an initial 75% stake in GE Doors (inclusive of GE Door Manufacturing and GE Carpentry Services) acquired by DK Group, with the remaining stake acquired over the next four years.
GE Doors are a leading manufacturer of doorsets, screens and ironmongery to the education, health and commercial sectors. Established in 1999, the South Wales based company has established itself as a key player within the industry, utilising technology, an experienced team of employees and significant resources to provide certified solutions to all clients.
Recently, GE Doors has expanded nationally, serviced by its own fleet of delivery vehicles to further support key customers and enhance the company’s service offering.
The shareholders of GE Door Solutions instructed KBS Corporate with the sale of the business to allow them to begin their retirement plans.
Following the production of marketing materials and a thorough research process, the opportunity attracted DK Group, who saw GE Doors as the ideal business to complement its existing portfolio. DK Group are currently operating an on-going acquisition strategy to enhance their current resources.
Jay Singh of KBS Corporate advised our clients on the deal throughout and commented, “GE Doors Group is a business that has been built up by the founding shareholder over the last 20 years. It has an excellent reputation in the market and the founder was keen to exit the business, but protect the businesses’ employees going forward. DK Group was the ideal strategic buyer as it allowed the founder to partially exit, but remain involved in the business and allowed the Sales Director to step up to the position of Managing Director with the support of the Board of DK Group”.
Gary Evans and Jason Pincombe commented:
“DK Group, as a family owned business, shares the GE Doors business philosophy, and by joining forces, we will be creating a platform for continued growth for both GE Doors and DK Group. We look forward to working with Kevin Higginson and his team,”
Kevin Higginson, CEO of DK Group Investments said:
“I am thrilled to welcome Gary, Jason and the entire GE Doors team to the DK Group and its family of businesses. We are excited by the opportunities available to GE Doors to continue its strong growth in the UK specialist doors market. We look forward to working with and investing in the GE Doors business, to make the most of these opportunities.”