Employees at Bradford-based doors and windows company Safestyle UK, which is set to float on the Alternative Investment Market next month in a £70 million deal, will be able to buy shares at a 20 per cent discount.

Chief executive Steve Birmingham hopes for a large take-up among Safestyle’s workforce and the company is also introducing a Save As Your Earn scheme to enable employees to build up cash to buy shares in future.

Mr Birmingham, who will hold a ten per cent stake in the business with his fellow directors, is bullish about expansion prospects for the company following the float on December 11 – the largest AIM company floatation of 2013.

Safestyle, which will become the only stock market quoted double glazing business in the UK, plans to extend its geographical reach and rate of production.

Since its launch in 1992, Safestyle has grown into the largest company in the UK homeowner window and door replacement market, manufacturing 232,000 frames in 2012 and carrying out more than 50,000 installations.

It has ten installation depots and 29 sales offices throughout the country.

Safestyle has increased its market share from 4.4 per cent in 2007 to 7.5 per cent in 2012. In a market that has declined 35 per cent from its 2007 highpoint, the company sold 250,000 window frames annually.

Mr Birmingham, said its performance had been strengthened by focusing on doors and windows rather than expanding into conservatories.

Plans include building on success in the Home Counties by 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 plant in South Yorkshire by 50 per cent 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 directors’ expectations.

Mr Birmingham said: “This marks a major milestone for Safestyle which we believe will increase the profile of our business, provide further credibility to our leading offering and enable us to put in place share incentive plans for staff whose dedication and hard work has contributed significantly to the success of our company.

“We are ideally positioned to capitalise on future growth opportunities and we are looking forward to a successful future as a public company.

“As housing transactions, mortgage approvals and consumer spending in the UK improve, Safestyle is well positioned to take advantage of the improving economic situation.

“Trading in the current year has progressed well, in line with our expectations. We believe that given the fundamentals of the business and the structural and geographic market opportunities, an initial public offering is the right strategy to support our continued development.”