The company aims to grow its turnover by £10m as it increases its geographic footprint and expands its range of products and services.
Stevenswood was acquired by Cairngorm Capital in November 2016. It has merged with trade suppliers Polyframe Trade Centres, Sameday Trade Frames and Truemans; organic growth has also led to the addition of five new trade centres. The company now generates turnover of more than £35m, has a portfolio of 38 trade centres across the UK and employs 180 people.
The medium-term aim is to double the number of trade counters across the UK. An additional 12 branches are expected to create 50 jobs and boost the company’s turnover by £10m. The growth programme will be led by managing director Joe Trueman, who was appointed in 2017 following the Truemans acquisition.
“In the past year we’ve continued to fine-tune the business, expanding the product range available to our customers and creating the platform for future growth by investing in our infrastructure and systems,” said Trueman. “Going forward, our strategy will shift towards organic branch opening. In the coming months we will finalise new locations but expect the majority to open in the south of England. We will be looking to take on an additional 50 staff to help manage and operate these centres. In addition, we will be looking to expand the range of services we provide our trade customers, using technology to make it easier to buy and collect our products. “
Cairngorm Capital managing director Neil McGill, who sits on the board of Stevenswood, added: “Stevenswood has grown into a key player in the sector and is one of the largest distributors of doors and windows in the country. As the sector continues to consolidate there has been a shift away from independent integrated fabricator/installers towards specialist distribution companies that can provide trade customers with access to a full range of quality products at attractive pricing. We expect this trend to continue, and believe that Stevenswood, under the leadership of Joe Trueman, is perfectly positioned to capitalise.”