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UKae agrees to management buyout

A double glazing engineering company has agreed to an UK 8 million management buyout.
Sutton Coldfield-based UKae is changing hands in the buyout after its recent acquisition of the Nuneaton decorati…

A double glazing engineering company has agreed to an UK 8 million management buyout. Sutton Coldfield-based UKae is changing hands in the buyout after its recent acquisition of the Nuneaton decorative film manufacturer Colourfilm. UKae, which makes components for double-glazing systems, is being bought by co-founder Mr Garry Ealing and his management team, following the retirement of Mr Ealing“s business partner. The company, which was founded 13 years ago, has a turnover of UK 14 million and 100 staff. It specializes in manufacturing the aluminium spacers which separate the two panes of glass in a double-glazed window and supplies them to the likes of Everest, Anglian and Solaglas. Both the Colourfilm and the buyout deal are backed by Lloyds TSB Development Capital. “At a time when investment in West Midland manufacturing is at a low level, I am delighted that we received the support of a local venture capitalist to help us realise the potential of the business,” said Mr Ealing. “UKea as a business is now well placed to move forward and expand market share both in the UK and overseas.”

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