PVC window maker Latium adds Ultraframe to its portfolio

Latium Holdings, the privately-owned window and home improvement group, is to buy UK conservatory specialist Ultraframe for Ј29.2m (E42.5m) following an agreed bid. Latium bought Heywood Williams’ PVC windows business last year and also includes Everest and Weatherseal in its stable of window brands. Ultraframe, chaired by former British Vita chief executive officer Rod Sellers, has been operating at a loss in difficult market conditions which it sees little immediate hope of improving.

Its near Ј100m (E146m) sales have been falling since 2004 as the UK conservatory market has been hit by falling consumer spending and increased low price competition. In addition, Ultraframe has been involved in litigation and taken longer than expected to win success in the North American market.

Latium Holdings has been specifically set up to handle the acquisition by the Ј400m (E583m) Latium Group, whose majority owner is Brian Kennedy, backer of Sale Sharks rugby club. The new owner will carry out a restructuring of its purchase once the deal is completed.