Corporate finance advisers at Browne Jacobson have successfully advised entrepreneur Gary Dutton MBE on the sale of Nottinghamshire-based door manufacturer Door-Stop International to Masonite International for £30m.
The Browne Jacobson team was led by Mark Hughes and Gavin Cummings. In 2010 the team advised Gary Dutton on the sale of Synseal Extrusions Limited to the incumbent management team, supported by private equity firm H.I.G Europe and Yorkshire Bank.
Established in 2008 and employing 200 people, Nottingham-based Door-Stop International manufactures more than 2,000 composite doors a week, delivering them on its own transport to installers all over the UK. Rated as one of the UK’s brightest businesses by The Sunday Telegraph, owner and serial entrepreneur Gary Dutton transformed the business into the leading composite door supplier in the UK within four years. The company’s production base will remain at Huthwaite, North Nottinghamshire following the acquisition.
Masonite International is a leading manufacturer of interior and exterior doors for domestic and commercial markets. It employs over seven thousand people and sells to 70 countries from over 70 locations worldwide. Masonite’s UK division operates from its 400,000 sq ft factory in Barnsley, South Yorkshire.
Gary Dutton MBE, chairman at Door-Stop, commented: “Door-Stop’s products and service model are a natural complement to Masonite’s business. Strong potential exists for the business in the form of continued organic growth, new markets and products, as well as through synergies and improved sourcing capabilities. Our employees and customers can look forward to capitalising on these opportunities.”
Mark Hughes, corporate finance partner at Browne Jacobson, said:
“We are delighted to have completed another deal for Gary which is a significant step in the development of the business he founded only six years ago. It is a deal that will not only enhance the growth of the business long term but also secure the future of its employees.”
Door Stop International was also advised by Clearwater Corporate Finance. Masonite was advised by law firm Pinsent Masons.
