Housing & Construction is a broad sector, supported by ongoing housing supply deficiencies in the UK. PMSI has extensive expertise in this sector spanning from building products to affordable/social housing. Our particular areas of focus within the sector include:

 

  • Building products

    • Kitchens​, adapted showers, windows, boiler filters

  • Housing

    • Social housing contractors, refurbishment, affordable housing

Please click on the logos to learn more about our work in this sector

Selected Clients & Companies

 

Background

Approach

Outcome

A two-pronged approach was needed, since the dynamics of the social housing and commercial markets were significantly different

 

In social housing, our focus was on the political macro drivers and size and growth of the market. We mapped out the market to show the total market opportunity in Scotland and further afield and tested existing customer relationships.

 

In the commercial sector, as well as sizing the market we tested the routes to market for existing customers and explored their pipeline and satisfaction. Competitor and non-customer insight was a key element of the project.

In 2016, CMS Window Systems, a leading provider of 360-degree building envelope solutions to the commercial construction and social housing sectors, secured a significant minority investment from mid-market private equity firm LDC.

 

​CMS Window Systems was founded in 2006 by Andy Kerr and is headquartered in Cumbernauld; it employs more than 255 people. The company specialises in energy-efficient and environmentally-friendly products including PVCu, aluminium and timber composite, windows, doors and curtain walling systems. It supports customers as they procure and deliver some of the largest housing investment programmes and commercial build projects in the UK. It also provides services from design and manufacture, through to installation and aftercare.

The deal will support the business’s expansion as it continues to capitalise on increased demand for energy-efficient products and services, further fuelling the organic growth of the company across Scotland and England.

Case Study

 

Background

Approach

Outcome

To support the transaction, PMSI provided a full commercial due diligence (CDD) on TKC. Key focus areas included:

  • Full understanding of the route to market, value chain and the dynamics of kitchen supply including sizing the market by channel and assessing the prevalence of components-only supply. A comprehensive non-customer survey involving over 50 interviews supported this analysis

  • Customer referencing across multiple groups of customers and full competitor analysis

  • Business plan analysis and full assessment of various strategic elements

In 2015, NorthEdge Capital supported the management buyout of TKC. The company is a specialist distributor of kitchen and bedroom doors and other components, based in the North West and sourcing the majority of its products from Italy. It currently employs 128 staff and supplies to independent kitchen retailers, kitchen manufacturers and local installers. Established in 1989, the company has experienced strong revenue growth, with turnover reaching £19m in the year to September 2015.

NorthEdge acquired a majority stake in TKC and the new deal will see the company’s founder, Tom Kelly, and director Hayley Kelly exit the business.

Case Study

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