Canadian door maker acquires Greater Manchester’s Performance Doorset Solutions

Greater Manchester-based windows and doors firm Performance Doorset Solutions Limited (PDS) has been sold to a New York Stock Exchange-listed Canadian company.

PDS, which is located in Littleborough, was sold for $16m (£10.31m) to Masonite International Corporation, with the North West Corporate Finance team at Ernst & Young advising PDS throughout the transaction.

Tim Fairley, PDS’ MD and co-founder, commented: “PDS’ products and service model are a natural addition to Masonite’s business. We are pleased to see this transaction completed and excited about the opportunities it will bring for the business, our employees and customers.

“The EY team’s sector insight, strong relationships with international acquirers and commitment to negotiating the best transaction meant they played a vital role in securing this deal, which marks the next step in PDS’ development.”

Masonite International Corporation, which designs and manufacturers interior and exterior doors, currently operates in 70 countries.

Ernst & Young’s North West director, Emma Pickering, said: “PDS is a superb business which performed resiliently during the economic downturn and is now demonstrating strong growth as the UK construction market increasingly looks for high quality, bespoke, timber doors and windows.

“Tim has driven the business impressively over recent years and this transaction provides a great result for the founding shareholders. PDS is a good strategic fit for Masonite as it provides a number of niche product lines that complement Masonite’s existing UK business.”

PDS has around 150 members of staff and has customers in a number of UK sectors, including social housing, education and renovation.