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SME Capital support Swinburne Maddison completion of MBO for NE&C Windows and Doors

SME Capital is pleased to announce our latest deal, providing a funding facility to support the MBO of NE & C Windows & Doors Limited.

NE & C Windows and Doors offer bespoke trade and commercial services including the manufacture, supply and fitting for large scale projects. 

Operating throughout Tyne and Wear, County Durham, Northumberland and Teesside, the company supplies and installs doors, windows and curtain walling. It offers a bespoke product range for trade and commercial businesses including the manufacture, supply and fitting of its products for large-scale projects together with housing developments, retail units, offices and distribution centres.

They supply housing developments, retail units, offices and distribution centres with bespoke windows, doors and fire safety solutions.

They are experts in B2B manufacturing of UPVC and Aluminium products based in Washington NE with exclusivity within County Durham and key framework agreements with housebuilders, social housing providers and many others. 

The MBO was led by Steve Allen who has been with the business since 2011 and been instrumental in winning key customers and establishing new growth opportunities together with the management team.  

NEC Team - SME Capital

With a new management team comprising Paul Readman (commercial director), Rachael Parkin-Wade (finance director) and Michael Massy, (operations director) the company is now setting its sights on the future, as managing director, Steve Allen, explains:

“I have worked here for over twelve years and I am very pleased we have been able to agree terms with the former owners, Ed and Heather, enabling us to take the company forward to a new phase of development. As a company, we have a small staff turnover, which is great for continuity and building a strong team. Our plan is to retain all the existing staff and create new positions moving forward as we grow.

We are continuously looking to expand and have some exciting plans in the pipeline.  For example, we invest a great amount of time in R&D to bring new products to market and having achieved certification on manufacture and installation, we will soon be pushing our new range of fire-rated products, which include windows, curtain walling and doors. 

We are grateful for SME Capital's vital role in empowering our journey to acquire NE and C Windows and Doors. Their support and expertise were influential in this process, and we extend our heartfelt thanks to both SME Capital and Swinburn Maddison, for the instrumental support in getting this deal across the line.”

Lead by Regional Director, Tim House, SME Capital have provided a bespoke long term funding package to support the MBO and future growth plans of the business.

Philip Dine of Clarion Solicitors who assisted SME Capital on the transactions legal documentation, said:  

“We were really pleased to assist SME Capital with the funding for this MBO and great to see their support of more investment in the North East. A fantastic and collaborative deal team made for a quick and seamless transaction.

Thanks to Craig Malarkey and Jess Stevens at Swinburne Maddison who acted for the management team and were a pleasure to work with. An exciting time for the management team – we wish them every success.”

Corporate Finance advice was provided by David Wilson at Clive Owen LLP.

If you would like to discuss MBO financing in more detail please do get in touch.

About SME Capital

SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.

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August 2023

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