MCTAVISH Ramsay, the Dundee-headquartered specialist door manufacturer, has merged with Doors By Design, a Renfrewshire-based rival, to consolidate its position as arguably Scotland’s leading operator in its sector.
The combined businesses will continue to trade under their own name and will have an annual turnover approaching £10 million.
The transaction was supported by Glasgow investment company Symphony Corporate, which is already a substantial shareholder in McTavish Ramsay, and the Clydesdale Bank. Tom Johnstone, formerly MD of Doors By Design will join the board and will be responsible for streamlining the merged company’s manufacturing processes. He will be joined by serial entrepreneur, Ian Stillie, who has been appointed chair.
Mr Stillie said: “This is an exciting opportunity for a Scottish business to grow within the UK specialist door manufacturing market. Our aim will be to drive the business forward both by organic growth and by acquisition and it is our ambition to become the second biggest player in that market within the next two years.”
Six former employees of Doors By Design have transferred over to the amalgamated business and, said Mr Stillie, a further ten jobs are expected to be created over the next few months.
“The plan is that the manufacturing base will be at the company’s Dundee plant which has seen some £1.5 million of investment in state of the art manufacturing kit over the past two years with the operation at Inchinnan, Renfrewshire focusing on design and development as well as bringing the latest technologies to bear on the merged operation.”
Mr. Johnstone said: “This transaction means that the two companies now have the benefits both of high quality and volume capability.”
ENDS
For further information, please contact michaelcrawford@blueprintmedia.co.uk
Issued by Michael Crawford at Blueprint Media – 0141 353 1515
October 2009
Note to Editors
McTavish Ramsay first traded as a packaging manufacturer during the Tayside city’s Victorian heyday and transformed itself into a door maker in the 1970’s.
Already established as an UK manufacturer of architectural doors and doorsets, with this acquisition, the company is now poised to expand further to increase its share of the estimated £300 million UK construction market available for its product range.
In 2008 a management buy-out team at McTavish Ramsay backed by Symphony Corporate led to the investment of over £1.5million in new plant, equipment and processes, together with the implementation of a vigorous new growth and marketing strategy with the clear aim of doubling turnover within three years.
Doorsets are doors with a frame which can include a whole range of furniture, such as locks, keyholes, handles, kickplates and glazed panels already fitted. Architects are attracted to doorsets because they can have input to their design and the high end construction industry favours them because they vastly simplify on-site processes. A doorset can be fitted in half an hour, compared to the four hours it takes for an unfurnished door.
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Contact: Michael Crawford
Phone: 0141 353 1515
Email: michaelcrawford@blueprintmedia.co.uk
