INDEPENDENT GLASS COMPANY LIMITED

🌳Matureactive

SC107294 · ltd · incorporated 1987-10-27

Investment thesis

Established operating company — standard diligence applies, no dominant angle.

Why interesting: Live, filing, normal profile.

Why risky: No standout signals in either direction.

🔒Estimated value

—

Upgrade to see

Turnover

—

year to Sept 2024

Net worth

—

book net assets

Opportunity

80/100

Exceptional

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What this business does

Primary activity: SIC 23120

Sector: Manufacturing

ALSO REGISTERED FOR

46900Non-specialised wholesale trade

Investor take

Pursue

Leverage-led grower with a 79-year-old founder — textbook succession opportunity.

Opportunity 80/100 (exceptional), bankability 67/100. Strong seller-intent signal (63/100, director aged 79). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 3 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (57/100).

🏦

Refinance opportunity

4 live charges · 3 lenders · oldest 37.8y

25/100

too messy

Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.

· Oldest live charge is 37.8 years old — likely at or near maturity.
· 3 lenders named — inter-creditor friction likely.
· Legal-friction score 48/100 (high).

Data confidence

Overall: medium (73/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile

address, 2 SIC codes, incorporation date

100

Financials

1 year of iXBRL accounts extracted (no YoY comparison) + narrative notes parsed

Lenders & charges

4 charges (4/4 with lender, 4/4 with type)

Directors & officers

15 officers (7 active, 15 linked, 12 with DOB)

Ownership & PSC

1 active PSC(s) of 1 total, 1 with control declared

Director network

5 connected companies via shared directors

Filing history

136 filings on record

Gazette notices

No matching gazette notices (standard for active companies)

🔒Estimated company valuation

Sector-multiple EBITDA, turnover, and NAV-proxy valuation range with confidence tier — derived from extracted iXBRL financials.

Available from the Pro tier upwards.

See pricing →

Opportunity Score

80/100Exceptional

PassWatchWorth a lookStrongExceptional

Strong composite across quality, acquirability, and risk. High-priority target — progress to serious diligence.

Business quality

Active, clean filings, stable charge profile.

Acquirability

Strong succession / seller-readiness signals.

Risk profile

Few red flags.

Signal strength

100

Good data coverage for analysis.

Signals from accounts

Derived from iXBRL accounts · FRS 102

Profitable

Profit before tax £412,008

Key financials

1 year extracted from filed iXBRL accounts

Cash

—

Net Worth

—

Current Assets

—

Current Liabilities

—

Financials

Extracted from Companies House accounts · FRS 102

Metric	2024-09-30
Profit before tax	£412.0k
Average employees	21800

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

4 signals detected in this company's narrative notes — going-concern language, audit opinion, contingent liabilities, related-party transactions.

Available from the Pro tier upwards.

See pricing →

Recent activity

Last 30 days

filings

Last 90 days

filings

Last 180 days

filing

• 1 officers

Counts from Companies House filing history.

Corporate timeline (40 events)Click to expand

2026-01-06
📄
termination-director-company-with-name-termination-date
officers · TM01
2025-12-03
➖
HARAN, Sarah resigned
director
2025-10-01
➕
HANDLEY, Kevin Christopher appointed
secretary
2025-10-01
📄
change-to-a-person-with-significant-control
persons-with-significant-control · PSC05
2025-10-01
📄
appoint-person-secretary-company-with-name-date
officers · AP03
2025-10-01
📄
termination-secretary-company-with-name-termination-date
officers · TM02
2025-09-30
➖
HEGGIE, Robert James resigned
secretary
2025-05-27
📄
accounts-with-accounts-type-full
accounts · AA
2024-06-12
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-06-11
📄
appoint-person-director-company-with-name-date
officers · AP01
2024-06-06
📄
accounts-with-accounts-type-full
accounts · AA
2024-06-01
➕
HANDLEY, Kevin Christopher appointed
director
2024-05-31
➖
HARAN, Lindsay Elizabeth Mary resigned
director
2024-03-25
📄
termination-director-company-with-name-termination-date
officers · TM01
2024-02-20
📄
change-person-director-company-with-change-date
officers · CH01
2023-11-16
➖
HARAN, John William resigned
director
2023-05-05
📄
accounts-with-accounts-type-full
accounts · AA
2022-05-20
📄
accounts-with-accounts-type-full
accounts · AA
2021-06-25
📄
accounts-with-accounts-type-full
accounts · AA
2020-12-15
📄
change-account-reference-date-company-previous-extended
accounts · AA01
2019-11-05
📄
accounts-with-accounts-type-full
accounts · AA
2018-12-13
📄
accounts-with-accounts-type-full
accounts · AA
2017-12-15
📄
accounts-with-accounts-type-full
accounts · AA
2015-12-19
🔓
Charge satisfied #4
2015-05-01
➕
HEGGIE, Robert James appointed
secretary
2015-04-06
➕
MORTIMER, Audrey appointed
director
2015-03-31
➖
FINLAYSON, Ian Kerr resigned
secretary
2014-03-31
➖
DONSON, Mark John resigned
director
2013-08-02
🔒
Charge registered #4
Lender: Clydesdale Bank PLC (Trading as Both Clydesdale Bank and Yorkshire Bank)
2013-07-25
🔒
Charge registered #3
Lender: Clydesdale Bank PLC
2007-12-17
➕
DONSON, Mark John appointed
director
2007-06-28
➖
FINLAYSON, Ian Kerr resigned
director
2007-01-08
➕
DEVINE, James Love appointed
director
2004-04-06
➕
DEVINE (JNR), John appointed
director
2001-11-09
➕
HARAN, John Fraser appointed
director
1996-03-01
➖
BALDWIN, Geoffrey Paul resigned
director
1995-10-11
➕
HARAN, Lindsay Elizabeth Mary appointed
director
1990-02-15
🔒
Charge registered #2
Lender: Clydesdale Bank Public Limited Company
1988-07-20
🔒
Charge registered #1
Lender: Clydesdale Bank Public Limited Company
1987-10-27
🏢
Company incorporated
As INDEPENDENT GLASS COMPANY LIMITED

Owner dependency

73/100

High — earn-out structure required

Material founder dependency. Consider a 2-3 year earn-out and build in a handover plan before completion.

FACTORS

-6 active directors: Broader management team in place — suggests transferable governance.
+Long-tenure founder: Senior director has been in place 25 years — deep operational knowledge concentrated in one person.
+Founder age: Director aged approximately 79 — succession pressure is live.
+Family involvement: Multiple officers share a surname — likely family business, which concentrates governance.

Succession & seller-readiness

80/100

Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS

primaryFounder aged 70+: Senior director is approximately 79 years old. Natural succession window is now.
primary20+ year tenure: Director in role 25 years. Very long tenure is a classic succession signal.
supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·

2 director resignations in last 12 months

medium

Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.

Evidence: HEGGIE, Robert James resigned 2025-09-30; HARAN, Sarah resigned 2025-12-03

Group structure

Ig Glass Group Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️

Ig Glass Group Limited

Corporate parent · holds 75-100% shares

ultimate parent

⬇

INDEPENDENT GLASS COMPANY LIMITED

This company · SC107294

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%

Name	Shares	Voting rights	Nature of control	Notified
Ig Glass Group Limited Corporate entity	75–100%	75–100%	75-100% shares · 75-100% voting	06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

Similar companies

Active · Manufacturing · G postcode area

Company	Est. value	Turnover	Net worth	Staff	Age	Opp	Director
DIESELEC THISTLE GENERATORS LIMITED→ SC269766 · est 2004	£7.66M £5.96M–£9.37M	—	—	10300	21y	84	58y
CALEDONIAN PLYWOOD COMPANY LTD.→ SC195444 · est 1999	£6.46M £5.02M–£7.89M	—	—	8100	27y	85	72y
PITREAVIE PACKAGING LIMITED→ SC290452 · est 2005	£4.66M £3.63M–£5.70M	£24.98M	—	15700	20y	84	70y
KELVINSIDE ELECTRONICS LIMITED→ SC105407 · est 1987	£4.29M £3.33M–£5.24M	—	—	6100	38y	84	65y
PCT GROUP SALES LIMITED→ SC075642 · est 1981	£3.56M £2.77M–£4.35M	—	—	77	44y	85	83y
PROMAT BD LIMITED→ SC208370 · est 2000	£3.41M £2.65M–£4.17M	—	—	8500	25y	87	70y
THOMAS TUNNOCK LIMITED→ SC028747 · est 1952	£2.26M £1.76M–£2.76M	—	—	653	74y	85	93y
SAMTEC (EUROPE) LIMITED→ SC096674 · est 1986	£1.51M £1.17M–£1.84M	—	—	2700	40y	85	65y
WALKI LIMITED→ SC014320 · est 1926	£439.3k £341.7k–£536.9k	—	—	35	99y	94	61y
LINIAN SUPPLY CO. LIMITED→ SC246119 · est 2003	—	—	—	1400	23y	88	66y
WILLIAMS WINDOW FABRICATION LIMITED→ SC163160 · est 1996 · no financials extracted	—	—	—	—	30y	—	—
WYLIE-REDMAN (MOULDS) LIMITED→ SC037222 · est 1962 · no financials extracted	—	—	—	—	64y	—	—

Peers ranked by estimated value, then turnover, then opportunity score.See all →

🔒Tailored diligence questions

8 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →

🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive

Typeltd

Incorporated1987-10-27

Jurisdictionscotland

Primary SIC23120 — SIC 23120

Registered office

Quay House

Quay Road North

Rutherglen

Glasgow

G73 1LD

Filing status

Accounts

Next due: 2026-06-30

Last made up to: 2024-09-30

Confirmation statement

Next due: 2026-10-26

Last: 2025-10-12