PWG makes it's Second Acquisition
The Performance Window Group (PWG) has acquired the assets and trade of Clearwood UK, based in Redruth, Cornwall from the Rowe Group. A new company, Clearwood Windows and Doors Ltd, has been formed to continue to offer the Clearwood UK products in its strong South West market.
This is PWG’s second acquisition since its formation by Roy Wakeman, executive chairman of The Performance Window Group, in the summer of last year. PWG made its first acquisition in October 2006 when it bought the leading quality brand in timber windows, Mumford and Wood Ltd. It is a further step in realising the strategic objective set by the PWG board to build a group of well known brands of external joinery products that whilst operating independently, extracts synergies and consolidates volume efficiency between themselves.
Clearwood Joinery has established itself as a major provider of quality timber windows in the South West despite only trading since 2000 when it was established by the Rowe Group. A spokesman for the Rowe Group said that Clearwood had grown into a major force in the timber window sector and that he was delighted to be able to see it now pass into the PWG group where manufacturing expertise, market knowledge and future direction was assured. The acquisition of Clearwood Joinery is another step in the current strategy of focusing on the Rowe Group’s core activities of property development and housebuilding.
Roy Wakeman said: “With its strong brand and presence in the South West, Clearwood UK will be an important addition to the Group’s activities in the timber window and external doorset market. The intention is to develop the production and sales of Clearwood’s casement window ranges, together with their doorset and French window products.” There will also be opportunities to help further develop PWG’s other unique products in conservation sash and casement ranges in Clearwood’s market place.
Treve Temby, managing director designate, said: “Everyone involved with Clearwood is excited about this opportunity as we are confident that with the help of PWG, Clearwood has a bright future.”
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