Inwido acquires CWG Choices for £11.6m
Inwido, Europe’s largest supplier of windows and doors, has completed the acquisition of British window and door company CWG Choices. CWG Choices is a leading manufacturer of double and triple glazed PVC-U windows and doors covering the Midlands and South of England. Inwido has acquired 100 percent of the shares in CWG Choices for £11.6 million on a cash- and debt-free basis.
In the UK PVC-U windows represent 80 percent of total market sales. With this acquisition Inwido complements the product offerings of Allan Bros. and Jack Brunsdon & Son by entering the market of PVC-U windows and doors. The company has some 180 employees and generated sales of £23 million in 2015.
“With the acquisition of CWG Choices we will strengthen our position in the UK and in the important and profitable installer channel”, says Håkan Jeppsson, President and CEO of Inwido. “CWG Choices sells mostly PVC-U products but also offers products in aluminium. We see possibilities to extend the offer to the installers with timber windows in the future”, continues Håkan Jeppsson.
“Inwido is an active and credible company which has managed to take the lead within the European windows and doors business during the last couple of years,” says Jason Wilder, MD of CWG Choices. “The Group’s strategy of decentralized management has proven very profitable and fits us well. I feel confident that this will be a good match.”
The acquisition of CWG Choices is financed through available liquidity and by raising a new bank loan and will have a positive impact on Inwido’s earnings per share.
