NEVIS, which is approaching 15 years of buying and investing in private companies, has backed the buy-out of Hardie Polymers (“Hardie”), the Clydebank-based specialist polymer distributor.
Brian Aitken, Partner at Nevis, said: “We are delighted to have invested in Hardie Polymers as it has all of the attributes that we look for in a business. A great team, outstanding customer service and a leading position in their market. The business is approaching its 100-year anniversary and we look forward to being part of it for a long time to come.”
Hardie Polymers has grown continuously during the last decade and Fergus Hardie, who is the third-generation owner, moves from Managing Director to Chairman as part of the transaction.
Isy Ferguson, who has been with the business for more than 25 years, steps up from Operations Director to Managing Director. Isy said: “I’m delighted to become a significant shareholder in
Hardie and lead the business as MD. It is a business that I feel passionately about having watched it grow and evolve over the years. We pride ourselves on delivering for our customers and this deal will allow us to increase our stock holding and expand our team to continue to meet our customers’ requirements.
“I believe this investment is the start of a new phase in the company’s development and I am looking forward to working with Nevis to continue to build the business.”
Former owner, Fergus Hardie, remains as a shareholder and Director but will take a step back from day to day operations. He will continue to use his industry knowledge and experience to support the team during the next few years. This deal ensures a seamless transition of control and represents an exciting opportunity for management to continue to grow the business with the backing of Nevis Capital.
Fergus Hardie said: “This is an exciting time for the business. I am delighted to transfer ownership to the team who have supported me in growing the business. I look forward to taking a step back but continuing to support on this next phase of growth for the business”.