Leicester based rooflight manufacturer, Roof Maker, which was set up 15 years ago with just a £5,000 investment, has been sold by its founders to a private equity firm for £30 million.
The company was founded in 2001 by Scott Nicholas and Rachel Owen, who have reinvested alongside Next Wave Partners (NWP).
Pricoa Capital Group provided senior debt for the transaction and also invested.
The business will carry on operating in Leicester and Nicholas will stay in his role of chief design officer.
He said: “Rachel and I have really enjoyed building up Roof-Maker over the last 15 years into the leading manufacturer and supplier of rooflights in the UK.
“However, we recognised that the time was right to find a strong partner with experience of growing businesses such as ours, in particular developing export opportunities.
“We are very excited about the future and looking forward to working with the NWP team, Pricoa and the Roof-Maker management team over the coming years to achieve more success together.”
NWP partner Dean MacKenzie added: “Roof-Maker is a fast growing vertically integrated omni-channel retailer of premium, high performance rooflights, skylights and bifold doors to the fast growing UK market.
“In a market underpinned by government legislation surrounding CO2 emissions and our desire for greater natural light and space in our homes, Roof-Maker offers bespoke products with superior thermal insulation and solar gain efficiencies delivered to site within days of being ordered.”
Hill Dickinson advised NWP and the buyer.
Mr Mildenstein said: “Roof-Maker has been an amazing success story and we want to build on that success moving forward.
“With Next Wave Partners and Pricoa’s support, I feel very confident we have found the right partner to grow the business domestically and internationally.”
Thurmaston-based Roof Maker achieved a 20 per cent increase in turnover to £10 million this year, following the launch of several new product ranges.
The company said it aims to increase sales and production by a further 20 per cent in 2017.