A County Durham double glazing specialist which has been trading for 30 years has been snapped up by a new North East property group.
Stormking Windows, based in Bishop Auckland, has been acquired by Countrywide Property Group Holdings Limited, launched in Dalton, near Ponteland, at the end of last year, for an undisclosed sum.
The firm have been providing glazing products and services since 1992 under the leadership of founding partners David Taylor, Nigel Thompson and Neil Clarey.
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It has changed and diversified over the years , having started out as a manufacturer supplying uPVC doors, windows and conservatories to the trade. Stormking remains competitive in the uPVC sector but has changed with market trends to add on services where the partners saw gaps in the market.
The departing shareholders will exit the business and retire and all of the staff will be retained.
Azets, the UK’s largest regional professional services firm to SMEs, provided corporate finance advice to the shareholders of Stormking.
Graham Cornforth, corporate finance partner at Azets, 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.
Mr 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.”
Mr Waters 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.”
Mr Cornforth 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.”
