Construction subcontractor rebrands and finds funding for growth.
Spying a gap in the market, CEO, Ivan A, founded AGM Renovations. Joined by HGTV star and contractor Mike Holmes in 1998, the pair soon shaped the company into a nationwide specialist basement and bathroom specialists.
Ivan and Mike, however, found that the kitchen installation market needed highly skilled teams who were not only trained in gas and electrics, but also trained plumbers who could work with kitchen furniture. It is for this reason that AGM Renovations prides itself on its diversely skilled workforce, an area in which Ivan has a huge depth of knowledge and has been perfecting since starting the business.
By diversifying the business model to accommodate for the new online appliances market, both Ivan and Mike have enabled consumers to purchase ‘white goods’ and have them delivered and installed either the next day or on a chosen delivery date. The re-brand to AGM Renovations marked a shift towards retail installation services and warranty exchanges and repairs. In its traditional market, AGM Renovations continues to work with mid-sized and regional house builders helping them install white goods for build programmes of up to 5000 homes every year.
Ivan, CEO of AGM Renovations said: “Unlike more traditional funders, Dunlop Baxter has a refreshing approach to funding SMEs in the house-building sector. It was an obvious fit for us as Dunlop Baxter is well versed in the construction sector with an astute view of the whole market. This, combined with the relationship-based approach, has enabled our business to continue to grow without cashflow stagnation."
Darwin Bleach, Managing Partner of Dunlop Baxter commented: "We are excited to work with AGM Renovations and to help their business go from strength-to-strength. We strongly believe in Ivan’s business model and strategy. Moving from a situation where over 80% of the business’s work came from a single retailer to a diverse structure has been impressive.
“Ivan can now focus on the continued success of AGM Renovations in a thriving construction industry market.”
Ivan, further explains: “Having over 30 years’ experience in the home appliances industry, we wanted to work with a funder that understood our individual business needs and requirements as a niche all-in-one supply and installations firm.
“Having partnered with Dunlop Baxter, we are seeking to expand the AGM Renovations brand and we have high growth aspirations to be the go-to kitchen appliances provider and installation service. “With house-building on the rise and further Government stimulus announced in October, we’re looking forward to expanding our business further.
“Having a funder with expertise in the construction sector, such as Dunlop Baxter, is a huge advantage to us.”