A Purchase Of Principal

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Lagercrantz has acquired Principal Doorsets Limited which manufactures specialised, customised and certified fire-resistant doors.

Typical end-customers are healthcare establishments, educational facilities and high-end residential apartment buildings, with a focus. The company focuses its business in the South and South-West of the UK.

Principal Doorsets is based in Barnstaple in Devon. It has an annual turnover of £9m.

TecSec

“Principal Doorsets will further strengthen Lagercrantz' position and offering within fire safety, a focus area within the TecSec division. The business has shown good growth and profitability and we look forward to continued development as a stand-alone profit centre within the division”, says Martin Sirvell, head of division TecSec within Lagercrantz.

“It is exciting to welcome another high quality, niche, market player to Lagercrantz UK. Principal Doorsets will add to our existing expertise within the broader fire safety space alongside Door and Joinery, Fireco and Supply Plus.”

Continuation

Rob Llewellyn, co-founder and MD of Principal Doorsets, says: "It feels safe to partner with a long-term and stable owner who can support our continued development. I very much look forward to continuing as MD of Principal Doorsets under Lagercrantz’ ownership.”

Co-founders, Stan Bond and Rob Llewellyn, will continue to lead Principal Doorsets within the Lagercrantz Group. Principal Doorsets will be part of the TecSec division as of July 2024. The acquisition is expected to generate a marginally positive contribution to Lagercrantz Group's earnings per share on an annual basis.

Picture: The team at Principal Doorsets.

www.principaldoorsets.com

Article written by Cathryn Ellis
25th July 2024

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