Investment opens doors to firm’s future success
A long-standing manufacturing firm is opening the doors to a bright future after securing a six-figure investment
Armarium Crown acquired Washingtonbased Crown Doors & Shutters after founder Mike Marsh decided to retire with Mike’s sons Andrew and Graeme – who have both worked for the business since it was set up in 2007 – promoted to managing director and contracts director respectively.
The firm has now secured a £100,000 investment from regional fund management firm NEL Fund Managers to help it deliver its growth potential.
The capital will be used to support increased marketing activity, production capacity and recruitment, with up to four new jobs expected this year. Based on the Bentall Business Park, Crown Doors & Shutters offers a comprehensive range of aluminium windows, curtain walling, security shutters, steel doors, fire screens, windows and doors. It works with clients nationally and has a team of 25 people, all of whom have remained in post through the change of ownership. Armarium Crown says it is is continuing to look for further acquisition opportunities across the region.
Director Ian Innerd says: “Crown Doors & Shutters is a well-established and respected firm with a stable and highly-skilled workforce and our aim is to build on the excellent work that Mike and his family have done over the last 14 years. “We’re looking forward to the next stage of Crown’s development." The £9m North East Small Loan Fund typically offers loans of between £10,000 and £100,000 to businesses in the region. Jane Siddle, investment executive at NEL Fund Managers, said: “Crown Doors & Shutters is a highly-regarded business that offers very firm foundations on which its new owners can build its future.” For more information on NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.