Posted on 30.7.15
North-West leading law firm, Gorvins Solicitors, has advised the shareholders of Greater Manchester-based Performance Doorset Solutions (PDS), on its $16 million USD sale to Canadian giant, Masonite International Corporation.
PDS is a supplier of custom, timber manufactured doors and windows, employing around 150 people at its site in Littleborough. They have around 200 active customers throughout the UK and supply all manner of construction markets.
Masonite International Corporation is a leading global designer and manufacturer of interior and exterior doors of both residential and non-residential construction. The international company is listed on the New York Stock Exchange and is currently active in 70 countries with over 6,000 customers.
Andrew Curwen, Partner and Head of Gorvins’ Corporate-Commercial team supported by Associate Solicitor Gemma Lingard, led the transaction and provided legal advice to the shareholders of PDS throughout the trans-Atlantic sale of the company. Gorvins also worked alongside professional services firm Ernst & Young, who advised and brokered the deal. London-based Pinsent Masons acted for Masonite.
Andrew Curwen, commented to say, “PDS is a great example of an entrepreneurial North West business. The transaction clearly demonstrates that international groups continue to be on the lookout for high quality UK businesses to invest in. It has been a pleasure to advise the shareholders of PDS on the transaction and work alongside EY to achieve such a good outcome.”
PDS performed resiliently during the economic crisis and is now showing strong growth as the construction market in the UK looks for superbly manufactured and high quality doors and windows. The deal provides a great result for the original shareholders and the business as a whole.
Co-Founder and Managing Director at PDS, Tim Fairley, said: “PDS’ products and service model are a natural addition to Masonite’s business. We are pleased to see this transaction completed and excited about the opportunities it will bring for the business, our employees and customers.”