‘Business as usual’ is the message from Principal Doorset’s directors as the North Devon based business has been bought by a world leading tech group called Lagercrantz.
The doorsets manufacturer, based on Pottington Business Park, has carefully selected a buyer that mirrors the culture, approach and agility of the company whilst enabling the current owners to carry on with their business approach.
Rob Llewellyn, Managing Director, explains, “Finding the right home for our business was of paramount importance to us. In Lagercrantz we have a long-term partner that will provide a safe and stable home for our employees and customers. They share our vision, culture and values, and will be able to support the continued development of the business.”
Following the closure of Barnstaple doorset manufacturer Leaderflush Shapland in 2012, former employees Rob Llewellyn and Stan Bond decided they wanted to keep the rich history of door making in the region and founded Principal Doorsets in 2014. The company has grown rapidly in its first 10 years of business which has seen it move from its original premises in Bideford to owning a larger production site in Barnstaple in 2017 where further growth of the site has been necessary to meet the demands of manufacturing.
Stan Bond, Director, adds, “Over the last 10 years we have grown the business and our client portfolio with a market leading approach. We want to continue to build upon the strong foundations we have established here. Partnering with Lagercrantz is a great opportunity to continue with the values and objectives whilst building upon the ambitious plans we have for the business. Having Lagercrantz with us assisting is a great help, bringing with them wide knowledge and experience from a Nasdaq listed group”.
Stan and Rob will continue as Directors of the business, working with their Executive Management Team in Barnstaple to support the company’s growth plans.
Principal Doorsets believes its success is down to its people and ethos of this business. Stan says, “We started out with a handful of us that were committed to bringing doorset production back to North Devon and now we’ve grown to a team of more than 65 people. We believe it is the experience, expertise and commitment of our employees that has contributed to our ongoing success. We don’t take anything for granted. Every job that passes through sales, design, production and dispatch is just as important as the last one. We seek to make the experience as positive as possible and our after care is equally as important. None of this will change as we move into a new chapter for Principal Doorsets.”
Lagercrantz Group is a Tech Group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The Group consists of plus 80 companies, 7 in the UK, each with a focus on a specific sub-market. Lagercrantz Group is active in nine countries in Northern Europe as well as in China, India and in the USA. The Group has approximately 2,600 employees and revenues of more than 575m GBP.
