May 22 2013 Latest news:
Wednesday, July 4, 2012
The founder of Anglia Roofing Solutions is forging ahead with the expansion of his business portfolio with the acquisition of Norfolk Windows Ltd.
Scott Warman said he had bought the Honingham-based business, which has a showroom in Swaffham, in an undisclosed deal last week.
The move comes as Anglia Roofing Solutions has also opened a new base in Diss in South Norfolk as part of a bid to expand into Suffolk and is part of the 31-year entreprenuer’s blueprint to create a diverse portfolio of at least 10 businesses.
Mr Warman, who is a member of the EDP Future 50, has also invested in a business to business magazine and online publishing venture – East Coast Promotions South Africa.
He said the acquisitions were funded by reinvesting profits from the roofing business, which was set to see turnover rise to £3m this year on the back of a greater willingness of home owners to stay put and invest in improving their homes.
“There are 2.5m homes in Norfolk and rather than sell, a lot of people are improving what they have got,” Mr Warman said.
“What I am trying to do is create a portfolio of properties that can cater for everything on properties from roofs to windows and driveways.
He said although the publishing venture was a new departure for the business, he had agreed to buy a 30pc stake in the business last December after an approach from a friend looking for investment.
“It’s VAT exempt and I am bringing money into the country from outside Europe, which is a sort of quantative easing,” he added.
After a successful stint working for Anglia Home Improvements, Mr Warman ventured out on his own in 2009 setting up the roofing business, which is now based at the Hellesdon Park Industrial Estate on the outskirts of Norwich.
The new Diss operation is being headed up by three of the existing Norwich team.
“We have been quite successful in Norfolk building up a great little business and we believe we can do the same in Suffolk,” Mr Warman said. “All these chaps have built up the Norwich operation and I believe that promoting from within is the best route.
“The ball is rolling, we have done about 15 jobs already and we are looking to recruit up to 20 more people,” he said.
Norfolk turkey giant Bernard Matthews is in talks to sell a stake in the business.