A Derbyshire company which was in administration has been saved as part of a buyout which safeguarded more than 1,000 jobs.
Door manufactures Masterdor Limited which is based on Spanker Lane, Nether Heage, is part of Nottinghamshire firm Synseal Group.
Masterdor Limited has been renamed Calibre Doors.
Synseal Group went into administration yesterday, March 5, and were bought out by Aperture Trading Limited.
Following the sale 1,016 employees and seven leasehold sites have transferred to Aperture.
However, 42 redundancies have been made after Synseal’s conservatory roof fabrication business was not sold as part of the deal.
Aperture has been established by Synseal’s former majority shareholder, with the backing of the senior management team, including Matthew Mycock CEO, and Andy Jones group sales and marketing director.
The company has taken over Synseal Extrusions, Warmcore, PVC-U fabrications including vertical sliders, roof systems, residential doors – now known as Calibre doors – Global Glass and Norvik.
Andy Jones, Group Sales and Marketing Director said: “Following months of speculation, we trust this announcement will quell any conjecture about our future path.
"Customers and the entire supply chain can rest assured that Aperture’s management team are all unswerving in our commitment to the venture, and between us, will bring to market a powerful blend of decades of industry experience, backed with a depth of strategic business acumen from other sectors.
"We will be sharing more detail about our planned investment into the different parts of the business over coming weeks and months.”
Matthew Mycock, CEO said: “I joined the business in April last year and have since been working hard with the board to chart a new course through a rapidly changing industry landscape.
"The formation of Aperture Trading Ltd provides the platform from which to develop a business that is right-sized and fit for the future, and one in which investment can be made across the many innovative products that will drive its growth.
“We all know that the fenestration sector is fast changing and will continue to be under challenge in a number of ways: raw material costs, accelerated consolidation across extruders, fabricators and installers, stagnation in some product categories and a significant reduction in consumer confidence. And yet, there is still real opportunity to be found.
“But to access it, businesses need to decide where their core is and honestly appraise current performance and where the opportunities for improvement lie. That’s why it has been critical to implement these changes and secure investment across the businesses in order to seize this opportunity. The team is now clear on the way forward. We’re determined that we will create a simpler, more customer focused, and more sustainable business for our customers, colleagues and critical supply chain partners.
“I’m really looking forward to spearheading a new organisation that’s fit for the future, and most importantly, fit for the next generation of customers. Our clear message to the market is that we’re here to stay, and we’re here to build a strong business with customers at its heart.”