Pella Territory Changes Hands

Bonafair Capital Group has acquired Pella Corp.’s window and door distributorship for most of Florida, the Caribbean and Central America. Bonafair Capital, based in Albuquerque, already operates Pella dealerships in New Mexico and Texas, but the Florida market presents a bigger opportunity, according to Tom Bonafair, CEO.

“In my markets here there are 2.5 million people; in Florida my new market translates to 14 million people, plus we have plans to develop the business in Central America,” Bonafair told the New Mexico Business Weekly.

The Robert Hunt Co. had previously owned the Florida Pella business, which had sales of around $40 million, Bonafair told the paper. The acquisition price was in excess of $10 million and gave Bonafair Pella franchise rights in most of Florida with the exception of Jacksonville.

The acquisition includes the territory of all of the Caribbean and Central America with the exception of the Dominican Republic and the U.S. territory of Puerto Rico.

Bonafair recently opened a new facility in Albuquerque to house assembly operations. The annual revenues of Pella Windows & Doors of New Mexico are around $25 million and the company employs about 90 people, he reports.