Lead Forensics

Case study

CMS Window Systems: Expansion of facilities for growth

Minority investment helped Scottish manufacturer to capitalise on green credentials to create openings.

CMS Window Systems is the leading provider of 360-degree building envelope solutions to the commercial construction and social housing sectors.

Exit date

March 2019

LDC Region

Specialising in energy-efficient and environmentally-friendly products, CMS Window Systems (CMS) supports customers as they procure and deliver some of the largest housing investment programmes and commercial build projects in the UK. It also provides services from design and manufacture, through to installation and aftercare.

Strong support

In May 2016, the management team at CMS secured a significant minority investment from LDC to support its ambitious organic growth plans.

During our partnership, CMS opened an 8,500 sq ft PVCu door manufacturing and recycling plant in Kirkaldy, Scotland, increased the production capacity of its Cumbernauld headquarters, strengthened its management team with the appointment of David Ritchie as CEO and launched a new over-the-counter trade sales service, which enabled it to offer its energy-efficient products to sole traders and SME contractors.

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Our partnership with LDC gave us the strategic guidance and financial firepower we needed to deliver our ambitious growth strategy. Energy-efficiency and the use of environmentally friendly construction practices have become an essential consideration for our sector.”
David Ritchie, CEO
CMS Window Systems

Clear success

CMS’s extensive programme of capital investment and service diversification coincided with a string of contract wins for the business. In 2017, it was appointed to North Lanarkshire Council and East Dunbartonshire Council’s window and door replacement frameworks.

As well as securing deals with public sector clients, CMS also supported several high-profile commercial construction projects. In 2019 alone, it provided aluminium glazing packages for Cala Homes’ re-development of Edinburgh’s Donaldson Estate and Balfour Beatty’s Prince & Princess of Wales Hospice in Glasgow’s Bellahouston Park.

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With LDC’s support, we’ve been able to capitalise on our business’s green credentials – dramatically increasing our production capacity and expanding the scope of our offering to take advantage of increased demand for our specialist products and services.”
David Ritchie, CEO
CMS Window Systems

Record revenues

In 2019, LDC completed the sale of CMS for an undisclosed sum to Maven Capital Partners.

At the time of exit, the business employed almost 300 people and recorded revenues of £39m for the year ending March 2019, up 25 per cent during LDC’s tenure.


Best Employment Programme for Young People

Hub South West 2019

Best Building Envelope Solutions Provider UK

BUILD Magazine 2019

Green World Award ‘Building & Construction’ category


Power Business of the Year

The Glasgow Awards 2018

Gold Award

Scottish Green Apple Awards 2018

Mid-Market Management Team of the Year

Scotland BVCA Management Team Awards