Sentry Fire Safety Group named one of UK’s fastest-growing businesses by BDO

This prestigious accolade emanates from a landmark report commissioned by BDO LLP and designed to analyse value creation as well as understand supercharged growth within UK businesses.

Sentry Doors, which is owned by Cairngorm Capital, is a trusted partner for fire safety compliance across a diverse range of sectors, among them social housing, education, healthcare, leisure and the commercial environment.

From its Birmingham and Doncaster sites, the company manufactures a comprehensive range of fire safety and security door sets that meet the Building Regulations. The business works closely with social housing providers to replace unsafe fire doors, which has been a critical area of focus following the Grenfell Tower tragedy in June 2017.

Qualifying companies

The inaugural Private Equity Value Report written by Real Deals, on behalf of BDO LLP, reveals that the 435 qualifying companies achieved an average combined EBITDA and Compound Annual Growth Rate exceeding 100% between the 2020 and 2022 financial years. For its part, Sentry Doors has demonstrably surpassed these impressive benchmarks.

Within Yorkshire, Sentry Doors stands out as a regional leader, ranking 15^th among the 38 fastest-growing businesses. This recognition underscores Sentry Doors’ exceptional performance in areas like EBITDA growth and job creation across the last three years.

Moreover, Sentry Doors secured third place within the Yorkshire manufacturing sector, further solidifying its position as a leader within the regional manufacturing landscape.

Turnover and profits

Since Cairngorm Capital acquired Sentry Doors back in 2019, the company has witnessed remarkable growth. A £3 million investment has equipped the business with state-of-the-art machinery and a new ERP system, which has subsequently helped to optimise efficiency.

As reported by Fire Safety Matters, this significant investment was followed by the strategic acquisition of E. & S. W. Knowles & Company Limited (Knowles) in August 2022, which solidified Sentry Doors’ position as a UK leader in the fire safety and security door sets arena. The footprint was then expanded across two sites.

The Cairngorm Capital investment, coupled with the Knowles acquisition, has more than doubled Sentry Doors’ production capacity, while its product ranges have expanded to include the specialist finishes used for the healthcare, education and private sectors.

This combined investment and acquisition strategy has not only enabled the business to cater to new markets through Knowles; expertise, but also positioned it to meet the growing demands arising from new fire safety legislation. These efforts have yielded a 100% increase in both turnover and profits, along with a 36% uptick in EBITDA between 2020-2022.

Job creation

Growth has translated into significant job creation, with employee numbers jumping from 28 in 2019 to a current workforce of 200 across both the Doncaster and Birmingham sites.

Sentry Doors prioritises employee development and invests in its people through dedicated training programmes, ensuring a skilled and knowledgeable team. Over the years, the company has cultivated a supportive, family-oriented culture that attracts and retains top talent. The business also supports the local economy by continuing to use trusted local supply chain partners.

Sustainable manufacturing

Impressively, Sentry Doors has also begun its journey towards a more sustainable future by adopting a number of eco-friendly manufacturing practices (among them the recycling of waste sawdust and using an innovative heat generation system within the warehouse).

The Birmingham facility boasts ISO 14001 certification and FSC Chain of Custody certification, duly reflecting a commitment to environmentally responsible practices. Sentry Doors’ support for initiatives including ‘Trees for Cities’ further demonstrates a dedication to sustainability.

Ty Aziz, CEO at Sentry Doors, commented: “It’s fantastic to be named alongside so many impressive businesses. This is testament to the support of our investors and the hard work of our team. It’s important to shine a light on the positive impact that external investment can realise for a business’ ambitions.”

Aziz continued: “Our decision to partner with Cairngorm Capital in 2019 has proven instrumental to our success. Our initial growth plan aimed to double revenue and triple EBITDA. We’ve surpassed those goals, achieving a five-fold increase across all criteria – revenue, EBIDTA, profit and production figures – since 2019. This signifies the remarkable impact of our strategic partnership.”

In addition, Aziz noted: “We’re particularly passionate about delivering exceptional fire safety solutions, prioritising social responsibility and investing in a sustainable future. While achieving significant growth, we remain committed to our core principles: a strong focus on family values and fostering a positive company culture.”

Resilient and dynamic

Nick Millward, director at BDO LLP, observed: “Despite the challenges of the past three years, this research demonstrates that private equity-backed businesses are a resilient and dynamic segment of the UK’s economy. There’s often a focus on the level of deal activity and headlines around exits, but we should also celebrate the value created by investors and management teams working hard to deliver against their growth plans.”

*The complete Real Deals report is available to view online at https://www.bdo.co.uk/en-gb/insights/industries/private-equity/private-equity-value-report

**The research is based on data captured for UK businesses that were private equity-backed as at 31.12.2020 and filed group-level accounts in the three years from 2020 to 2022. Companies in scope were those with a turnover of between £10 million and £300 million in the latest financial accounts and which registered an increase in EBITDA between FY20 and FY22

***Further information on Sentry Doors can be accessed at https://sentrydoors.co.uk/