- Duke provided United Glass Group*, one of the UK’s leading independent glass merchants and processor groups, with initial funding of £6.5 million in April 2018
- The royalty finance agreement allowed management to refinance most of its outstanding debt and one of its subsidiaries, BGF
- It also facilitated the buyout of the remaining equity stake of a key operating subsidiary that it did not already own
- Since its initial investment, Duke has made two follow-on investments into the group, totalling £5.5m, which have enabled it to acquire the freehold of a key operational premises and the strategic acquisition of LAG
United Glass Group
“The main attraction for choosing Duke Royalty as our financing partner was the long-term participating nature of its capital. At United Glass Group, we have a clear plan to grow both organically and via acquisition and we are happy to have removed the debt on our balance sheet and to have gained a supportive and aligned financing partner for the long term.”
Mark Harrisson
Group Managing Director of United Glass Group
United Glass Group is one of the UK’s leading independent glass merchants and processors.
*formerly Brownhills Glass Group
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