CLITHEROE-BASED Ultraframe has bought its American rival in a £88.5 million deal which makes the company the world leader in conservatory systems.
In its first major acquisition, the company has taken over the Four Seasons Group, the market leader in pre-fabricated, glazed structures in North America.
Ultraframe has also revealed that it has bought out its Canadian joint venture partner which gives the company full control of its North American operations.
The Four Seasons deal has been financed through cash reserves, new bank finance and the issue of £14 million of Ultraframe shares.
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