The backer of one of Britain's biggest home improvement specialists is plotting a sale that would close the door on one of the longest ownership periods in the private equity industry's history.

Sky News has learnt that Alchemy Partners is preparing to appoint investment bankers to sell Anglian Home Improvements, the provider of windows, doors and home extensions.

Sources said an auction of the business was likely to kick off in the next 12 months.

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One source estimated that the company could be worth in excess of £100m, although a more precise valuation was unclear on Thursday.

Alchemy, which specialises in acquiring distressed businesses before improving their performance and selling them on, has owned Anglian in various forms since 2001.

The company has been reshaped several times since its original investment.

Alchemy took Anglian private in 2001 through a recommended cash offer worth about £160m.

At the time, Alchemy was run by Jon Moulton, one of the pioneers of Britain's private equity industry and who later went on to own Anglian's rival double-glazing, Everest, through his subsequent buyout venture, Better Capital.

Since then, Anglian has swooped on a number of troubled rivals, including Safestyle in 2023, before acquiring Everest's brand and other assets the following year.

Alchemy declined to comment.