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Date:	10th May 2005
Source:	Eastern Daily Press

City team's key role in glazing deal

A team of Norwich-based professionals has played a crucial role in the recent management buy-out of an East Anglian specialist glazing firm.

English Architectural Glazing, based at Mildenhall, announced last month that the management team which had been at its helm for the past four years had bought the firm from founder and owner Norman Sheldrake.

The deal meant that EAG, sister company SGC Specialist Glazing and Cladding, and MultiFab, which runs the factory and manufacturing, would all change hands, allowing Mr Sheldrake to retire.

Now it has emerged that a number of local firms helped advise EAG's new management team in the buy-out process, including Norwich-based accountancy firm Lovewell Blake.

The firm's head of corporate finance, Mark Garner, said: "The completion of the acquisition by the management team marks the end of a long-term succession plan which commenced many months ago. Developing succession and acquisition strategies for significant private companies are rarely straightforward, but EAG's highly capable and motivated management team took the process in their stride, with a clear strategy to further develop this very successful business."

Legal services were provided by the Norwich office of Eversheds solicitors, led by Craig Hodgson, and bank funding was arranged through Bank of Scotland Corporate in Norwich.

The Bank of Scotland team was led by Tim Procter and Donald Stuart.

Mr Procter said: "We have a massive regard for what the management team has already achieved at EAG. The deal makes so much sense for all parties and we are delighted to be working with the new owners."

The bank was advised by law firm Birketts, represented by Adrian Seagers and Tom Sleight.

The buy-out team comprises EAG managing director Simon Gladwin, pre-construction director Edward Whipp, financial director Jeremy Cocks and business development director Charlie Dyce. They have bought the entire shareholding of EAG, SGC and MultiFab for an undisclosed sum.

The company is based on Mildenhall's industrial estate in Chiswick Avenue and employs 110 people split between its HQ and numerous sites around the UK.

Mr Gladwin said: "We couldn't have managed this deal so smoothly had it not been for the expert advice and help given to us by all these firms. As the management team, we were very keen for the deal to go through without any problems and we would like to thank everyone involved for their hard work from start to finish."

EAG was among contractors on the new Norfolk and Norwich University Hospital and is currently on site at apartments being constructed next to the football ground in Carrow Road.

It has also been involved in a series of high-profile projects in London including the new Camden Lock Market, The Roundhouse arts and music venue in Camden, and Hans Crescent in Knightsbridge.

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