Interdoor
Growth Fund - Loans & Equity Case Study
Interdoor, based in Hull, supplies and maintains specialist industrial doors throughout the UK to a range of sectors including retail, food processing, aviation, automotive and film and television.
The company
Established in 2017, when managing director Mark Roberts incorporated the company and acquired the industrial door business from a member of his family’s group of companies, which itself had traded for more than 40 years, the company has grown substantially over the last six years.
It has built a solid reputation as one of the leading industrial door maintenance providers in the UK offering some of the most competitive rates on the market, unrivalled technical knowledge and rapid emergency response times.
Interdoor is also known for supplying and installing some of the most specialised industrial doors including large aircraft hangar doors, high speed doors, large acoustic doors for film and television studios and freezer and cold storage doors for the food industry.
The challenge
Interdoor’s ambition is to become one of the largest national industrial door maintenance providers in the UK. Investment was required to support an MBO and take forward Interdoor’s growth strategy.
Finance Yorkshire involvement
£1.3 million from Finance Yorkshire’s growth fund supported the MBO which was led by the company’s operations director, Gary Toalster, with the support of MD Mark Roberts who prior to the sale owned 100% of the company. He will remain as a shareholder and director of the new business. Between them, Gary and Mark have more than 30 years’ experience in the industrial door sector.
Mark said: “Finance Yorkshire was the first port of call to fund the transaction. We have worked with its fund managers previously who have proved to be trusted partners in working with us to help our business grow.”
The investment rationale
Alex McWhirter, chief executive of Finance Yorkshire, said: “Interdoor is an impressive company with a strong track record in the supply and maintenance of innovative industrial doors to a range of sectors. It has continued to grow even in the most challenging of trading conditions such as the COVID-19 pandemic. We are pleased to support the management team in the next chapter of the company’s growth strategy.”
Future expectations
Gary, who was originally employed by Mark’s father 15 years ago as an apprentice engineer, said: “The buyout enables us to support our growth plans for Interdoor and together with our unrivalled customer service and technical knowledge will help us in our ambition to become one of the largest national industrial door maintenance providers in the UK.”