Lancashire-based window and door manufacturer Dekko Window Systems has been acquired by Swedish window company Inwido, which will be added to its Business Area Western Europe portfolio.
Dekko has approximately 200 employees and a production facility in Greater Manchester. In the last financial year, the company reported sales of approximately £21.5 million.
Dekko Window Systems was founded in 2008 by Gary Torr and Kurt Greatrex who are now selling their company to Inwido to ensure continued good development and expansion of the business.
Dekko Window Systems sells its products to the consumer market, house builders and through architects within both commercial properties and new construction.
The company will continue to operate as a separate business unit in Business Area Western Europe while they, among other things, will be able to benefit from synergies with Inwido’s central purchasing organisation as well as other business units in the UK.
“The acquisition of Dekko Window Systems strengthens our presence in the UK, which is one of Europe’s largest markets for windows and doors. We acquire a well-managed and successful business with a strong product offering and good organic growth potential. The acquisition is yet another step towards realising our ambitious growth targets”, said Henrik Hjalmarsson, President and CEO of Inwido.
“Inwido is a leading, responsible and successful window and door group that we are looking forward to becoming a part of. By boosting our business with Inwido’s competence and strength position, we see good opportunities to accelerate our own development and continue to win market shares in the UK market,” says Gary Torr, MD and one of the founders of Dekko Window Systems.
The acquisition of Dekko Window Systems Ltd is financed through available cash and will have a marginally positive impact on Inwido’s earnings per share during 2022. The purchase price is in line with Inwido’s usual multiples.
The owners retain 30 percent of the shares for a period of at least three years. The purchase price for the remaining shares will be based on the future financial performance of Dekko Window Systems.
Image courtesy of Dekko Window Systems Twitter page.