RSM advises on sale of toughened glass firm GJC Holdings to Alcuin Capital Partners as directors look to growth - Business Live

2021-12-23 06:25:00 By : Ms. Jolin Zhang

Management vows to grow Prescot-based TuffX under new ownership

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A specialist toughened glass firm has been sold to a London investment house - and its managers say the deal provides it with a strong platform for future growth.

RSM UK Corporate Finance advised the shareholders of GJC Holdings, whose trading subsidiary is TuffX Processed Glass, on their sale to Alcuin Capital Partners. Operations director John Tierney is continuing with the business and says its growth will continue under Alcuin.

Prescot-based TuffX makes specialist toughened glass for residential and commercial applications - including walk-on glass panels and floors. It has been operating for 25 years and has a fleet of more than 40 vehicles delivering glass across the country.

Graham Price, the founder of TuffX, said: "The sale to Alcuin and the ongoing involvement of John Tierney, the Operations Director, provides a natural succession and a strong foundation for future growth."

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John Tierney said: "I am excited to be working with Alcuin to continue to support the growth in the business. RSM has found us the right partner to work with to continue to invest in the development of new products, and efficient manufacturing processes."

AT RSM, the transaction was led by corporate finance partner Ian Latham, with support from Matt Kells.

Mr Latham said: ‘TuffX is a market-leading manufacturer of processed glass providing a broad range of quality toughened glass products and a high level of service to its customers.

"It has a been a pleasure to support Graham and John in growing the business and the sale to Alcuin is a strong platform for its future continued success."

Weightmans provided legal advice on the transaction. Its team was led by Gary Jones, with support from Michael Murphy and John Kemp.

Alcuin specialises in supporting management buy-outs in middle-market companies in the UK. Its investments normally range from £4m to £20m.