Specialist UK glass maker CGI International, with clients including the Houses of Parliament and Granada Television Studios, has been put up for sale by its private equity owners for an estimated GBP …
Specialist UK glass maker CGI International, with clients including the Houses of Parliament and Granada Television Studios, has been put up for sale by its private equity owners for an estimated GBP 50 million. It is understood that the company, part-owned by private equity firms Dunedin Partners and Northern Ventures, has hired Catalyst Corporate Finance to carry out a strategic review of the business and advise on a possible sale. CGI was created in 1998 to purchase the glass division of the Colebrand Group, which had traded as Colebrand Glass, in a management buyout. The company makes and supplies fire-resistant, safety and security glass products for a wide range of customers including Hong Kong Airport, Manchester Airport, Ikea, The Ritz London, Holiday Inn Expresses, Travel Inn, Marks & Spencer, Royal Mail, Nomura Bank and Warwick Castle. However, about 70% of the company“s products are exported to markets in Europe, the Far East and the USA. Both CGI and Dunedin Partners declined to comment.