The Performance Window Group (PWG) is bullish about future business prospects after completing the acquisition of Clearwood Joinery and setting up an installation division at Mumford & Wood.
The company, formed by executive chairman Roy Wakeman a year ago, expects to achieve a turnover of £20m in 2008 and become the UK’s fourth biggest external joinery producer.
He said Clearwood’s strong brand in the south-west was a valuable addition to the group’s activities.
Mr Wakeman said Clearwood formed a good balance with Mumford & Wood, with the former concentrating on housebuilders and housing associations and the latter specialising in large individual houses.
“Geographically, Clearwood adds to the group as it is very strong in the south-west, whereas Mumford & Wood operates in the south-east Midlands. We can push Clearwood’s business up to the Bristol Channel and the M5 and M4 corridors.
“We are not going to stop where we are. We are going to make other investments, and are very close to acquiring some more capacity for Mumford & Wood.”
Mr Wakeman said Mumford & Wood’s sales had increased by 50% since PWG acquired the company a year ago. Increasing capacity by taking on an additional site would double this again, he added.
He also revealed that PWG had been in talks with six acquisition prospects in the past year.
“I set up the Performance Window Group with the sole purpose of building a group of joinery manufacturers with strong brands into a premier external window and door group for the construction and refurbishment markets, with all products made out of timber.
“I could see even five years ago given the increase of sustainability and green issues that timber was going to come back into the forefront.”
Mumford & Wood’s new supply and fit division – Mumford & Wood Installations Ltd – is designed to meet the growing need for an installaton service for timber windows and doors. Shaun McAllister, who formerly headed Anglian Windows’ conservatory division, has been appointed managing director of the new venture.
