NW Glass Firm Benefits from Going Private

Article excerpt

LEADING company CGI International is a good example of a NW firm that has benefited from the growth in availability of private equity finance. CGI, based at Haydock, is now market leader in production of certain types of fire-resistant safety glass. In 1998, its chief executive Tom Ritchie led a pounds 10m management buy-out of the business aided by funding from Dunedin Capital Partners. Since then it has more than doubled its sales to around pounds 12m a year and numbers employed have grown from under 20 to over 50 people. It also now has a brand new factory costing over pounds 2m. Now a further boost to sales is expected as a result of the EC's recent adoption of new test standards that require fire resistant glass to also be resistant to heat transfer. This is already the norm in Dutch building regulations. And if other European countries adopt the new EC standard for their own building regulations it should make the coming years boom ones for CGI's exports. …