While there was no ‘BOGOF’ deal on shares when Bradford-based Safestyle UK floated on the Alternative Investment Market this morning that didn’t deter blue chip investors from showing their faith in the future of the business and prospects of decent shareholder returns.

The company – famous for its in your face ‘Buy One Get One Free, I say, Buy One Get One Free’ TV ads featuring the Safestyle Window Man – has become the only stock market quoted double glazing business in the UK. The sale of its shares was the largest AIM company flotation of 2013.

So, it’s a significant event, both for the market and the company which plans to extend its geographical reach and rate of production. It is also buying its Bradford head office building, Style House in Eldon Place, and its manufacturing site in South Yorkshire for £3.8 million.

The share sale was, according to City sources, significantly oversubscribed and raised about £70 million for Safestyle. Several leading institutional investors have taken a stake in the company, including the likes of Miton Capital Partners, Schroders Asset Management, Henderson Volantis, AXA Framlington and Cazenove Capital Management who bagged more than 36 per cent of the shares between them. Staff were offered shares at a 20 per cent discount.

The level of interest shows a confidence in Safestyle’s prospects after achieving a ‘best in class’ performance through growing both volumes and revenues and increasing its market share to 7.5 per cent last year from 4.4 per cent in 2007.

Its success is due to focusing entirely on residential PVCu replacement windows and doors aimed at customers in the lower to middle income bracket, with lower installation costs enabling it to undercut competitors by 20 per cent on price. In 2012 Safestyle produced 232,000 frames and carried out more than 50,000 installations.

Chief executive Steve Birmingham, finance director Mike Robinson and sales director Kiran Misra between them have nearly 40 years’ service with Safestyle and their success in steering the growth of the business was obviously a key factor in boosting investors’ confidence.

Plans for the business include expansion in the Home Counties through increasing sales in Greater London and other parts of the South and South East of England. Safestyle is also looking to increase output at its 120,000 sq ft manufacturing plant by half from 5,000 to 7,500 units a week in the medium term.

In the six months to June 30, 2013, Safestyle had revenues of £62.6 million and pre-tax profits of £7.8 million and since then trading has been in line with expectations Mr Birmingham described the AIM float as a major milestone for Safestyle – and it certainly was Yet more evidence of a forward-looking Bradford company building on success.