Brownhills Glass buys competitor in £2.4m deal

Walsall-based Brownhills Glass has, in partnership with Chelverton Asset Management (CAM), acquired glass processing business Tufwell Glass from Nottingham's Laidlaw Interiors Group for £2.4m.

Chelverton's Investor Club, which was launched in 2013, raised £1.2m of equity from its high net worth membership to invest alongside trade partner Brownhills Glass.It also received supporting debt finance from Lloyds Bank and Lloyds Bank Commercial Finance.

Tufwell supplies toughened, laminated and mirrored glass for contractors and end-users throughout London and the South East. Brownhills Glass delivers a similar proposition to its largely Midlands-based customers.

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