A commercial door and roller shutter system maintenance and service business has been acquired by a national building services provider, in a deal supported by FRP Corporate Finance.
Ascot Doors (Service), founded in 2018, offers a fully self-delivered supply and install, service, maintenance and reactive response solution for the retail, industrial, commercial and emergency services sectors. Headquartered in Barnsley, it operates six depots nationwide and employs 59 people.
The business has been acquired by andwis – a network of 21 technical building and compliance service companies, backed by global private equity firm H.I.G Capital, that provides building maintenance services for a range of organisations across defence, healthcare, education, retail and hospitality.
FRP Corporate Finance’s Manchester-based team, led by partner Daniel Brecker and manager Amy Murphy, was appointed by the shareholders of Ascot Doors (Service), BREAL Group, to support the sale of Ascot Doors (Service) from within BREAL Capital (Ascot) Limited.
The FRP Corporate Finance team identified andwis as a suitable buyer, before managing negotiations, supporting on all aspects of the deal including completion mechanisms and project management of all transaction workstreams. The transaction marked a successful exit for BREAL Group, which has retained ownership over the other two entities within BREAL Capital (Ascot).
The deal will allow Ascot Doors (Service) to benefit from andwis’ vast network of businesses in the sector, provide a fuller range of technical and compliance service offerings to clients and collaborate with other entrance specialists like Meesons and Etron UK Limited to support its plans for growth. All Ascot Doors (Service) team members will join andwis.
Daniel Brecker, partner at FRP Corporate Finance, said: “The interest shown in this business demonstrates the appetite amongst trade buyers for companies that have built up an excellent reputation for service and a strong, recurring customer base.
“After extensive market research, we identified andwis as a great fit to help the business continue to develop, with its existing network in this sector providing a strong platform for Ascot Doors Service to continue to grow. I look forward to seeing both parties reap the rewards from this deal in the coming years.”
Paul Redfern, managing director of Ascot Doors Service, added: “We’re excited to begin this new chapter. While continuing to serve our clients with the same dedication, joining andwis allows us to offer a broader range of technical and compliance services.
“We appointed FRP Corporate Finance for its deep sector knowledge and the team certainly didn’t disappoint. In andwis, it has helped us to find a great partner to take the business forward and we’re grateful for the support Daniel and the team provided us throughout this sale.”
