Dekko Window Systems Ltd acquired by Inwido
Inwido, a leading Swedish window group, has successfully acquired Greater Manchester-based Dekko Window Systems Ltd.
Dekko Window Systems Ltd is a specialist manufacturer and supplier of windows and doors. The company has approximately 200 employees along with a production facility in Greater Manchester, and in the last financial year, Dekko reported sales of approximately £21.6 million.
The company sells its products, such as solidor composite door and deceuninck windows and doors, to the consumer market, housebuilders and through architects within both commercial properties and new construction, and Dekko’s founders Gary Torr and Kurt Greatrex expect the sale to Inwido to ensure continued good development and expansion of the business.
Based in Ashton-under-Lyne, Dekko Window Systems will continue to operate as a separate business unit in Business Area Western Europe while they, among other things, will be able to benefit from synergies with Inwido’s central purchasing organization as well as other business units in the UK.
“The acquisition of Dekko Window Systems strengthens our presence in the UK, which is one of Europe’s largest markets for windows and doors. We acquire a well-managed and successful business with a strong product offering and good organic growth potential. The acquisition is yet another step towards realizing our ambitious growth targets,” says Henrik Hjalmarsson, President and CEO of Inwido.
“Inwido is a leading, responsible and successful window and door group that we are looking forward to becoming a part of. By boosting our business with Inwido’s competence and strength position, we see good opportunities to accelerate our own development and continue to win market shares in the UK market,” says Gary Torr, MD and one of the founders of Dekko Window Systems Ltd.
The acquisition of Dekko Window Systems Ltd is financed through available cash and will have a marginally positive impact on Inwido’s earnings per share during 2022. The purchase price is in line with Inwido’s usual multiples. The owners retain 30 percent of the shares for a period of at least three years. The purchase price for the remaining shares will be based on the future financial performance of Dekko Window Systems Ltd.