North East glazing company receives £400,000 investment

A North East glazing company has been given a £400,000 investment to aid its growth into new markets.

Fendor, a Washington based commercial glazing company, is currently the market leader in healthcare and its presence in custodial and blast and ballistics markets is growing.

To aid its continued expansion, the company has received a £400,000 mezzanine investment from the North East Growth Plus Fund.

The money, which comes from FW Capital, is intended to give Fendor the working capital it needs to grow further.

Established over thirty years ago, Fendor started out supplying the commercial and fire markets but following a management buy-out in 2006, began to research more specialist systems.

Managing Director of Fendor, Chris Duffy said: “We’ve invested heavily in research, development and testing over the last six years and we now offer a comprehensive range of standard steel and aluminium commercial glazing systems as well as an innovative range of bespoke systems targeted at seven key markets.

“Developing the specialist side of our business over the last six years has been the cornerstone of our expansion, particularly when the commercial glazing market has been so hard hit in the current economic climate.

“We’ve already expanded significantly and markets such as blast and ballistics, custodial and healthcare continue to offer significant growth opportunities..

“Our order book is healthy and most of our key markets are growing so there’s a great deal of potential for further expansion.

“FW Capital’s investment provides us with the working capital we need to fund our expansion.”

Fendor’s products are now being shipped globally and the Home Office’s recent approval of the company’s unique bar-less CellGuard® window has resulted in orders for several new and refurbishment projects throughout the UK.

The company now list among their clients, Allied Irish and Lloyds TSB banks; Baltic Centre for Contemporary Art; Broadmoor and Rampton high-security hospitals; the Dorchester hotel; Gateshead Council and supermarket chain, Morrisons.

Investment Executive, Michael Vassallo who led the Fendor deal for FW Capital said: “Fendor’s long-term diversification strategy is really paying off and it’s winning some lucrative new contracts in the high-value niche sectors it targets.

“Its commitment to innovation and technical excellence has helped the company to win new business and build an enviable reputation.