DW3 Products Group is a UK provider of high-quality, premium door solutions and window systems.
NorthEdge originally invested in Solidor in October 2014 after recognising the enormous potential of the manufacturing sector. Led by Solidor CEO Gareth Mobley, DW3 Products Group was formed in November 2014 to create a platform to buy and build innovative manufacturers. The business made a further three follow-on acquisitions, and now supplies products under brand names Solidor, Residor, Nicedor, and Residence.
Solidor utilises a leading online offering, including a door designer and a specialised online portal, which allows trade customers to specify and purchase products online.
NorthEdge completed the sale of DW3 to Masonite International Corporation, the NYSE-listed global designer and manufacturer of interior and exterior doors, in January 2018.
The transaction is NorthEdge’s eighth exit from Fund I and represents a 3.5x return and an IRR of 59 per cent with a holding period of 40 months.
Jon Pickering, Partner and Head of North West at NorthEdge, said: “DW3 has been a pioneer in developing composite doors and window products in recent years as well as leading the industry with its online presence and cloud based ordering platforms. This deal is testament to the talent within the Group, and the success the Company has been able to generate through a targeted, dynamic buy and build approach which has seen the Group make acquisitions and invest heavily in capex, operational platforms, IT infrastructure, and technology. “This exit represents a strong return on investment for NorthEdge and we are pleased that our support has culminated in investment from a global player in this market.”
Gareth Mobley, CEO at DW3, said: “It has been a pleasure to work with the team at NorthEdge. The team has consistently invested in people, operations, technology, and innovation and we have been able to offer our customers access to the best products and the best service as a result. We are very much looking forward to the next chapter as we join one of the world’s leading building products businesses. Masonite is a global leader and this is a proud moment for our team.”
It has been a pleasure to work with the team at NorthEdge. They consistently invested in people, operations, technology and innovation to allow us to offer our customers access to the best products and services.