Friday, February 3, 2023

Yorkshire door business secures multimillion pound support for growth plans

Distinction Doors, the composite door manufacturer, has secured a multimillion-pound funding package from Shawbrook, to support its ambitious growth plans.

Beginning as a wholesale supplier before transitioning into manufacturing and the retail market, Yorkshire-based Distinction Doors has been supplying composite doors to the UK market for over 15 years.

The multi-million-pound deal with Shawbrook will help the team to grow Distinction Doors and the bespoke working capital package includes invoice discounting, an inventory facility and a cash-flow facility to support the business’s short- and long-term ambitions.

Andrew Fowlds, CEO of Distinction Doors, said: “Our success has largely been down to maintaining good relationships with our customers and we felt that Shawbrook shared the same culture. Not only was the team interested in our business, but they explored solutions that we hadn’t thought about, and that really impressed us. They were a natural partner for us.

“This funding has allowed us to invest in our machinery and increase our inventory in the short-term, but also enabled us to begin thinking about our longer-term growth too, and sustainability will play a large role in this.”

Nick Salmons, director, corporate lending at Shawbrook, said: Distinction Doors is an impressive business, and I am confident our support will enable the team to power up its innovation and ingenuity to fully embrace its potential. I’m looking forward to seeing the business go from strength to strength.”

BHP Corporate Finance acted as financial advisor to Distinction Doors. BHP partner, Don Gray said: “It was clear from the beginning of the relationship that Shawbrook and Distinction Doors were a good match. Shawbrook’s ability to provide a bespoke package that suited Distinction Doors’ needs was key, and I look forward to seeing Distinction Doors’ growth following this funding injection.”

Rob Fawke of Gunnercooke acted for Shawbrook, and Paul Trudgill from Knights acted for Distinction Doors. Matt Milnes of Hentons Corporate Finance provided financial due diligence.

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