Derbyshire-based STP Group Ltd has been taken over by independent private equity house Endless LLP.
The Manchester office of Endless has spent £6.4m on the purchase of the door and stair manufacturer, which represents its third investment into building products in 2007 after deals for Neville Johnson Furniture and PVCu window manufacturer Speed Frame.
STP managing director Ron Cohen said that the deal was a “very welcome development” and would allow the firm to continue to grow and expand.
“Endless’ investment in STP provides a firm platform for the management and workforce to continue to grow the business and, in turn, profitability,” said Mr Cohen. “This means we can concentrate on our main business strengths and position in the market.”
STP was the subject of a management buyout in 2001, with Mr Cohen and sales director Nigel Oakes leading a £15m takeover of the firm.
More details on this story will appear in the next issue of TTJ
