The Conversano-based group, a global leader in components and accessories for windows and doors, continues its expansion in the strategic Gulf area. Its acquisition of the Dubai company will lead to an estimated 30% growth in the Middle East over the next two years.
This continues the international expansion of Master, a leading Pugliese player in the global market of high-tech components and accessories for aluminium windows and doors. Following the opening in 2022 of a hub in Ivory Coast, West Africa, the company headed by CEO Michele Loperfido is now looking to consolidate its presence in the Middle Eastern market.
As part of its expansion plan in strategic markets, Master announces the acquisition of Windar Ltd, a long-standing partner and official distributor of the group in the Gulf region. The move strengthens Master’s presence with a new warehouse and a structured sales network to offer a faster and more efficient service to customers in the area.
Since 2007, the Dubai-based Windar has operated in the region as a supplier of accessories for aluminium windows, and in 2012 it became an official distributor for the Master Group in the Middle East, serving over 700 customers and employing some 12 staff. With the acquisition of its partner company Windar, the Master Group, which saw growth in 2022 up 20% on the previous year, is expecting an increase of 30% in market share in this strategic area for the period 2024 -25.
For Windar, joining Master Group is an achievement we are proud of, and the natural development of a solid working relationship over several years. This move will allow the group to increase its presence in our area, and to continue to make a meaningful contribution to economic growth and sustainable development in our region at a crucial time for us – says Ayman Adeeb, founder and General Manager of Windar, now Gulf Sales Area Manager for Master. – We’re extremely committed to supporting our partners in the achievement of the goals set by Saudi Vision 2023, which several GCC countries are promoting in order to improve quality of life in the region, diversify the economy and reduce dependence on oil.
This acquisition will allow us to seize the many opportunities offered by the Middle Eastern market – says Celeste Vitte, the newly appointed CEO of Windar – and give us confidence to invest in the human and commercial resources of a country that’s continually growing and offers enormous expertise.
Negotiations were carried our directly by the group in the person of Stefano Cafagna, CFO at Master, assisted by Brera Tax for accountancy and lawyer Roula Maalouf for the legalities.
The acquisition of Windar is fully consistent with the development strategy the group launched for the Middle East some time ago – says Stefano Cafagna, CFO of Master. – This action will allow the group to further boost investment in the area and increase service levels to benefit our customers in the entire Persian Gulf region.
The Master Group is based in Conversano, where it designs and manufactures 94% of its output and employs some 320 workers. In the two-year period 2022-23 it was one of the first international companies in the sector to be certified as a Great Place To Work, an important achievement that indicates the group’s commitment to building an environment in which staff well-being is at the heart of corporate strategy. Meanwhile, Master continues to invest in innovation; to this end, in line with current market demand, the group launched its Windows Automation System APRO, the system that allows remote management of the opening and closing of a building’s doors and windows, making them intelligent and automated, allowing natural ventilation and ensuring maximum comfort indoors, with the highest safety standards.