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TL Dallas advise on investment by Panoramic into APS

The Glasgow office of insurance broker, TL Dallas, has once again provided insurance due diligence services to Panoramic Growth Equity (Panoramic), the leading equity investor in fast growing, entrepreneurial companies, which is also based in Glasgow. 

Panoramic has invested into Aluminium & Plastics Systems (APS) Ltd, a leading stock-holding company selling aluminium and PVCu products to the construction industry. This marks Panoramic’s second investment into Northern Ireland and the 16th investment of Fund 2. 

Based in Lisburn, APS specialises in architectural aluminium glazing systems for commercial and residential buildings. The company also stocks a wide range of aluminium and steel sheets and extrusions, aluminium and PVC fascias, rainwater systems, windows and doors, louvers and roof lanterns. Established in 2000, APS has completed an impressive portfolio of projects and gained an excellent reputation in the industry. 

The TL Dallas due diligence consultancy service provides an insurance and risk health check review to investment firms acquiring equity stakes in businesses. Bernard Dunn, Doug Lapsley and Graham Murray from TL Dallas worked on the most recent project. 

Client director, Bernard Dunn, from TL Dallas, said: “We were delighted to undertake a review of the APS insurance programme on behalf of Panoramic Growth Equity. This review looked both at the company’s current insurance programme, as well as the levels of cover that might be required going forward, post-investment. Our review team encompassed both general and trade credit insurance specialists as part of the overall assessment of coverage on assets, liabilities, people and products.” 

Panoramic’s investment has enabled two of the founding shareholders, Alan Denver and Ivan Bradford, to retire from their operational roles at APS. With the support of Panoramic, co-founders, managing director Gary McNeill, and sales director, Chris Du Boulay, will continue to run the company, targeting continued expansion across Ireland and the UK. Alan and Ivan will remain as minority shareholders and provide ongoing strategic support to Gary and Chris. 

Gary McNeil, managing director at APS, commented: “Chris and I are delighted to have been backed by Panoramic and believe they will be a strong partner for APS through the next stage of its development. I would like to thank Alan Denver and Ivan Bradford for their hard work at APS since the Company was founded.”

David Atkinson, senior investment manager at Panoramic commented: “APS has demonstrated a track record of profitable growth over 20 years and developed a great reputation for design and service in the industry. We are pleased to support Gary and Chris in providing funding to build on the company’s success.”

Panoramic’s investment into APS was led by David Atkinson. Richard Moorehead, of HNH Corporate Finance, provided corporate finance advice to management. Legal advice to Panoramic was provided by Andrew Jennings and Kendra Mcullough of Shoosmiths. Consilium Chartered Accountants provided financial due diligence through David Holt and Colin McCrann. Legal advice to management was provided by Edwards & Co.

Contact Bernard Dunn, Doug Lapsley and Graham Murray on 0141 204 0330 or visit www.tldallas.com for more details. 

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