Maven has led the £20 million management buyout of UAP, a leading UK supplier and distributor of high specification door and window hardware. The transaction represents Maven’s second investment from its new buyout fund, having earlier this year led an investment in Scottish-based John McGavigan.
The deal, which includes an equity investment of £8.7 million from Maven and a significant reinvestment from the senior management team, will enable UAP to further accelerate growth with an expanded product range and entry into new markets. Founded in 1996 by David Jennings, UAP has a track record of delivering growth, both organically and through acquisitions, including Fullex and CitySafe which were both integrated in 2016.
UAP has an extensive and market leading portfolio of brands across key product areas such as door lock cylinders, handles, hinges, letter box plates and guards. The business now offers over 3,000 product lines and exports to 25 different countries. Manchester-based UAP has established a reputation for innovation and safety, with a significant proportion of its product range backed by patents, and British Kite marked and Secured by Design approved meeting the latest security and fire safety regulations.
Increasing regulation and the tightening of fire safety standards is driving additional demand for UAP’s certified products as the market responds to regulatory change within the new build and social housing sectors. The lock and hinge market alone in the UK is estimated to be worth circa £900 million per year.
“We are delighted to have completed the second investment on behalf of Maven’s new UK Regional Buyout Fund. UAP is a highly profitable, fast growing and market leading business. It is led by a highly experienced management team who have big ambitions for the business to become the clear market leader. We are excited to support UAP in its growth strategy which may also include strategic bolt-on acquisitions.
The culture of innovation in the business, customer service and its commitment to new product development is a key differentiator to competitors in the market and this has firmly cemented UAP as one of the UK’s leading suppliers of quality door and window hardware. Maven will provide UAP with committed capital to pursue this growth strategy, the team know they have a supportive investor backing their development plans.”
Andrew Ferguson, Partner at Maven
“UAP is growing at a significant pace backed by a fantastic team and enviable product portfolio. In order to realise our huge growth ambitions it was vital to us that we aligned ourselves with a pro-active private equity house who shared our vision. From the very first meeting, I have been impressed by the sheer professionalism of Maven Capital Partners. And I know that we now have an equity partner who will help us shape our future and support our growth story going forwards. Our goal now is to repay the faith placed in us by Maven, and it is a challenge that we will relish”
David Jennings, CEO at UAP
Read more posts
The North East’s leading independent law firm for businesses, Muckle LLP, has reported an increase in income and profit for year ending March 2019. Newcastle based Muckle LLP saw turnover…Read more
We often hear stories of those wanting to give back after achieving success, but so often it’s just talk. Steven Ward of Protech however, is bucking the trend and really…Read more
After the success of their summer recruitment drive, Newton Aycliffe based training provider Baltic Apprenticeships are hosting two more recruitment open days in November. As well as supporting tech and…Read more