Clearwater International UK has advised DW3 Products Holdings Ltd (DW3), a manufacturer of premium composite doors and distributor of window systems, on its sale to Masonite International Corporation (NYSE: DOOR), a leading global designer and manufacturer of interior and exterior doors for the residential new construction, the residential repair, renovation and remodeling and the non-residential building construction markets The acquisition provides an exit for private equity firm NorthEdge Capital.
DW3 is a market leading, tech-enabled provider of premium composite doors and windows for the UK home improvement sector. The group comprises six market leading brands including Solidor, Residor, and Nicedor, and generated sales of c. €51m (£45m) in 2017. The business has made significant investments in operational platforms, technology and new product development to ensure the continuation of its ambitious growth strategy. Through a technology led strategy, DW3 has revolutionised its production and logistics processes and is poised to further explore new opportunities to grow the business.
Founded in 1925, Masonite is a leading global designer and manufacturer of interior and exterior doors, door components, and entry systems, which holds a strong reputation within the construction and interior design industries. The Florida-based business employs nearly 10,000 people in over 65 locations internationally. The acquisition of DW3 adds to Masonite’s enviable UK portfolio, which comprises Premdor Crosby, DoorStop International, National Hickman and Performance Doorset Solutions.
The Clearwater International team comprised of Partner and Head of Industrials Jon Hustler, Partners Rob Britton and Constantine Biller and Associate Alex Brindley.
Legal advice was provided by a team from Eversheds-Sutherland led by Partner, Andy Phillips and Associate, Helen Tsang.