Clear future for Everest with Better Capital acquisition

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Clearwater Corporate Finance, has advised leading consumer home improvement brand, Everest, on its acquisition by private equity firm, Better Capital.

Everest, which recorded revenues of £173 million in 2010, is a manufacturer, installer and supplier of PVCu and aluminium windows and doors, conservatories, roofline products, garage doors, security systems, kitchens, driveways and other home improvement products. The business employs 810 staff across the country and its headquarters in Cuffley, Hertfordshire.

The company and its subsidiaries have been acquired by a special purpose vehicle ultimately majority owned by BECAP12 Fund LP, the latest fund from private equity firm Better Capital, which was established by Jon Moulton. The fund has committed £25 million to fund the acquisition and for working capital and restructuring requirements of the business.

A team from the London office of Clearwater advised on the transaction, comprising managing partner Phil Burns, partners Chris Smith and Rob Britton, and manager Al-Munther Sultan.

Chris Smith, partner at Clearwater Corporate Finance, who led the deal team, said: “Everest is a business with a strong heritage and well-known consumer brand with a strong presence in the market. We were impressed with the speed and deliverability that Better Capital exhibited in this process to secure the deal. The funding they have provided will support the continued growth of the company and ability to take further market share.”