Jan 11, 2023

It was almost 30 years ago, back in 1993, that Eamon Donnelly, along with his father and two brothers, decided to set up Uform, the Toomebridge-based kitchen component manufacturer which now employs over 400 people. The love affair with kitchens started early for Eamon, who had been selling and earning commission since he was a teenager, when it was very much a family business. “Selling kitchens became a drug. I loved every bit of it from meeting people to problem solving,” Eamon says. “At first, there were just four of us. I was finance, sales and marketing; my father was front of house and sales; Paul was in manufacturing; and my other brother, Seamus, worked part-time – now, he’s an area sales manager. That carried through till dad passed away with cancer eight years ago.” Since the company began selling oak timber doors for kitchens, Uform has grown exponentially. “Today, we employ 415 people at facilities in Co Antrim and Co Donegal and deliver more than 1,500 kitchens a week to customers across the UK and Ireland,” Eamon says. “Our secret sauce is that we all share the same values – from the person who sands the wood to the managing director.” In 2016, Eamon was a finalist in the EY Entrepreneur of the Year, which brought national attention to the company and along with it, the interest of investors. “We had enjoyed double-digit growth for many years and had seen other businesses in our sector acquired by private equity,” he says. “We were approached a couple of times by big accountancy firms. In 2017, that conversation became more real when we brought one on board to create a prospectus. Suddenly, we had lots of private equity firms and trade buyers interested.” Weekly Business Digest Sign Up It was important to Eamon that any potential investor fit with the company’s values. “I met a lot of people, who weren’t aligned to our culture. Speaking plainly, they were not a good cultural fit for the organisation.” Despite receiving offers, Eamon wasn’t ready to sell the business, instead opting for a stepping-stone approach, by de-risking financially and continuing to drive growth. In 2019, Uform struck a multimillion-pound deal with BGF, the UK and Ireland’s most active growth capital investor, for a minority stake in the company to fuel further growth into the wider UK and Irish markets. “BGF fitted our culture,” he says. “There was an energy about them. They invested in 2019 and since then we’ve grown 40% a year, significantly expanding our market share in the UK, Northern Irish and Republic of Ireland markets.” “The key reasons for taking investment were to: expand capacity to grow our presence in the GB market, improve corporate governance, facilitate succession planning by expanding the exec team and assist with strategic planning. It was always a family business, and we knew it could become better. Since BGF came on board, we have built a top team that’s second to none. We also invested in our production facilities and new state-of-the-art equipment, as well as expanded the product range.” As part of the deal with BGF, Jim Meredith was appointed to the board of Uform as non-executive chairman from the BGF Talent Network, to provide an objective perspective outside of the business owners as well as a wealth of experience. With support from Jim and BGF, Eamon and his team were able to shape and finalise the company’s overall growth strategy – setting the business on the best possible trajectory to grow and realise value for shareholders when the time was right. Exit planning was key to this strategy from the beginning of BGF and Uform’s relationship. The teams worked together to recognise key milestones that must be hit to attract buyers and identify potential buyers early on. In 2022, the Uform team decided the time was right to seek investment to take the business to the next stage, securing a deal with Cardinal Ireland Partners in October. “Last year, Cardinal Ireland Partners provided funding to further increase capacity at our facilities,” Eamon says. “The deal allowed BGF to exit its investment, however BGF has reinvested alongside Cardinal and will stay on as a minority shareholder. Myself and my brother Paul remain on the board as significant shareholders.” “The deal is a cause for celebration, but because of my background, I don’t like to take anything for granted. We grew up in a social housing estate in the mid-1960s. My mum was a housewife and my father, when he wasn’t building houses, was a labourer in a concrete factory. Later, he rose to be a production manager, while also double jobbing for increased income. “The thing about growing up with very little is that the vulnerability never leaves you. You never feel completely secure, however much is in your bank account. On the other hand, I believe our upbringing gave us the strength to succeed in tough times.” Now that the deal with Cardinal Partners is complete, Eamon wants to enjoy life, but he has no intention of slowing down. “Obviously, I’ll still be involved in Uform as part of the board, with a focus on strategic development and product innovation. Ours is a fast-changing sector – it’s crucial to stay in fashion. I’ll still be passionate about the future of Uform, with our partners Cardinal and BGF involved.”  For more information on BGF’s investments in Northern Ireland contact chris.nixon@bgf.co.uk BGF was set up in 2011 and has invested over £3bn in more than 500 companies, making it the most active growth capital investor in the UK and Ireland. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests between £1m and £20m in growing businesses in the UK and Ireland through its network of 15 offices. To date BGF has invested more than £70m in Northern Ireland companies, most recently in Ballymena-based facades specialist, Clarke. Most Read