Performance door and doorset manufacturer LS Group Ltd has been bought by Sheffield-based building materials company SIG plc for an undisclosed sum.
The company said it will be “business as usual” although there are plans for future growth.
LS Group managing director Todd Altman said: “SIG is a very large building materials group which is very much focused on the construction industry. It is positive about investment in our business in terms of both manufacturing and people and their ownership of the business is long term.
“We have a lot of plans for growth in the coming years and will be investing in our sites and in new equipment. We currently work in quite old buildings and will be investing in them to improve their effectiveness.”
LS Group chief executive Roy Wakeman said: “Being part of SIG, a successful £1.4bn company, will provide many positive benefits and reinforce the company’s financial strength and position with the market place.
“However, the individual identity of LS Group will be retained and there are no plans to merge with any other parts of SIG. So, it’s business as usual – but with an even stronger base.”
LS Group will operate and trade as before through its specialist divisions, which include LS Leaderflush Shapland, LS Longden and LS Multicare.
Operations at all three manufacturing sites in Sheffield, Nottinghamshire and Devon will also remain unchanged and there are no plans to alter the product range as a result of the acquisition.
