Management buy-out at Clearway Doors and Windows announced
PUBLISHED: 15:49 31 October 2017 | UPDATED: 15:49 31 October 2017
Three thriving local businesses have been purchased by its existing senior management team. A new holding company, East Manor Group Ltd, has been formed by a board of six directors, taking charge of Clearway Doors and Windows Ltd, CDW Systems Ltd and Designex Cabinets Ltd
Established in 1983, Cheltenham-based Clearway Doors and Windows Ltd have been manufacturing and installing windows and doors for over 30 years, growing from a small, two-man business to its present size.
It was previously owned by Jerry Webb, who remains as non-executive chairman with the new group.
CDW Systems Ltd, founded at Gloucester in 1992, is an aluminium window and door supplier for installers across the UK. It supplies trade installers with unglazed shop fronts and commercial aluminium doors using a range of high specification door and framing systems.
The third member of the East Manor Group Ltd, Stonehouse-based Designex Cabinets Ltd, builds strong, secure display cabinets with a wide range of applications. Its products are used by museums, schools, jewellers, showrooms and even private collectors.
Managing director of Clearway Doors and Windows Ltd is Jeremy Phillips, who lives in Bredon with his wife Angela. Angela is financial director for all three companies.
Director Allan Little is responsible for production at each business. Mike Davis is managing director of CDW Systems Ltd, where Richard Smith is technical director and Tewkesbury man Martin Rowe is sales director.
Clearway’s MD Jeremy Phillips said: “This is an exciting phase in the history of all three companies. The existing management structure has been in place for several years now, so it’s business as usual, but with more added stability for our staff and customers.
“Last year our joint group turnover was in excess of £10 million, and we continue to explore areas and opportunities to increase the scope of our businesses.
“We are already looking at developing new products and systems across the group for both commercial and domestic customers, while increasing our presence in the local area.”
The group employs eighty staff at its three sites.