W&D Weekly - September 26, 2007 | Vol 2, Num 38
(Print All Articles)

Gienow to Go Private with Acquisition
by Equity Group

Canada's Gienow Group has entered an agreement with Miami-based H.I.G. Capital to acquire the business...

The Gienow Group, one of Canada’s largest window and door manufacturers, has entered into an agreement with Miami-based H.I.G. Capital LLC to acquire the business in a transaction valued at $105.6 million (CDN). Gienow, which has operated as a publicly traded income trust, includes Calgary-based Gienow Windows & Doors, a producer of wood and vinyl windows and doors serving Western Canada, and Farley Windows, a vinyl window manufacturer based in Alexandria, Ontario.

H.I.G. Capital was previously involved in the window and door industry through its ownership of Pittsburgh-based Thermal Industries. That business was later acquired by the Atrium Cos. H.I.G. currently manages a portfolio of more than 50 companies with combined revenues in excess of $7 billion.

The sale is a result of a strategic review announced in November 2006 by the Gienow Windows & Doors Income Fund. “Many options were considered, and we believe this transaction best serves the interests of our unit holders at this time,” says Dave Gregory, chairman of the special committee that led the strategic review process.

Gienow is a 2007 Window & Door Top 100 manufacturer, reporting 2006 sales of $203.6 million (CDN). In addition to Gienow and Farley, the company operates Award Windows in Edmonton, which produces triple-pane vinyl windows, and Architectural Windows & Doors, which focuses on the high-rise residential market.

The transaction is expected to close by mid-November, pending a vote by Gienow unit holders. After closing, trust units will be de-listed from the Toronto Stock Exchange.


Questions? Comments? Please email us and share your thoughts.

Residential Growth for Door Manufacturer

Marshfield DoorSystems has acquired Precision Architectural Corp.’s automated door manufacturing line in Largo, Fla...

Increasing its stretch into the residential door market, Marshfield DoorSystems acquired Precision Architectural Corp.’s automated door manufacturing line in Largo, Fla. The second expansion in three years, Marshfield purchased Bolection Door in 2004.

"Largo’s manufacturing systems are an excellent fit for our residential routed MDF door business," notes Don Bergman, Marshfield CEO. "It expands our current residential capacity and will bring these types of doors to the commercial door market."

The Marshfield, Wis.-based producer bought the line during the summer and started production on it in early August. Now managed by Bolection, all 13 employees at the Largo site were retained and Marshfield DoorSystems’ managers expect to bring on additional workers as production ramps up, according to a report in the Marshfield (Wis.) News.

“This is an excellent fit within our family of products and brings expanded capacity through the use of highly automated technology,” says Jeff Smith, vice president and general manager of Bolection. “We look forward to growing our market reach and expanding into new markets at a faster pace.”

The company did not disclose the terms of the deal. Marshfield’s Wisconsin operations will not be affected by the purchase, officials report.


Questions? Comments? Email us and share your thoughts...

Albat+Wirsam Launches Glaston Partnership

Software supplier Albat+Wirsam officially launched its partnership with the Glaston Group earlier this month at GlassBuild...

Acquired in July, software supplier Albat+Wirsam officially launched its new partnership with the Glaston Group at GlassBuild America earlier this month. Glaston is the new name for the Finnish company Kyro, combining the operations of Bavelloni and Tamglass, two suppliers of glass processing equipment.

Albat+Wirsam continues to operate as an independent subsidiary, supplying software systems for IG and other glass fabrication operations. With its Cantor subsidiary also supplying window and door manufacturing software, Albat+Wirsam operates North American offices in Bellevue, Wash., and Oakville, Ontario.

“With business expanding and companies looking for new and unique ways to grow, we have a wonderful opportunity with our A+W partnership,” noted Jack Van Meerbeeck, executive vice president of Glaston North America, at the event. “Together with leading equipment manufacturers, A+W has successfully introduced into the market place advanced, up-to-date cutting optimization solutions including automatic sorting and other advanced solutions in IG manufacturing.”

Pointing to Glaston’s worldwide reach, Fred Montgomery, executive vice president of A+W North America, added, “As a leader in software innovation for glass, A+W will play an even more important role in intelligent networking and control of complex production environments.”

Glaston’s existing company Tamglass specializes in the production of tempering and safety glass equipment. Based in Italy, Bavelloni produces glass cutting and washing equipment, insulating glass lines and a variety of edging and beveling machinery. In addition to manufacturing equipment, Glaston is also known as the organizer of Glass Processing Days, a technical and marketing forum that gathers glass manufacturers, fabricators and industry suppliers from around the world.

“With Albat + Wirsam, we will be in a position to realize our OSP (one stop partner) philosophy even more consequently as before,” said Mika Seitovirta, Glaston CEO and president.

Discussing the company’s participation in GlassBuild America under the Glaston umbrella, Horst Mertes, executive director of sales and marketing of A+W North America, noted, “We had numerous qualified contacts to new potential customers, especially on the second day. The interest of the visitors confirms that we are on the right track with our unique product spectrum, within our OSP philosophy.”


Questions? Comments? Email us, and share your thoughts...

Edge Seal Has New Name

Intigral Inc. is the new name for Edge Seal Technologies, the Ohio-based manufacturer of insulating glass units...

Integral logoIntigral Inc. is the new name for Edge Seal Technologies, the manufacturer of insulating glass units based in Walton Hills, Ohio. “Pronounced just like integral, Intigral captures the closely linked working relationships we form with customers and focuses attention on the heart of our business—commitment to IG,” says Tom Bradley, president, part of a new management team that has been leading the company for nearly three years.

“Today we help window and door manufacturers transform IG supply from a constraint into a difference-maker for their businesses,” Bradley continues. “We’ve evolved significantly since being the first company to deliver IG overnight in 1988.”

The company, which operates four manufacturing locations in Ohio, continues to be owned by Dick Dietrich and Edmund Leopold, who also founded Glass Equipment Development.

Intigral serves its customers with five “input values” and three “sourcing relationships,” Bradley explains. The input values are speed to completion, immediate product variety, product development, independence, and logistical and systems integration. The three types of customer relationships are selective sourcing, outsourcing and insourcing. With selective sourcing, the window or door manufacturer makes some of its own IG units and sources specials from Intigral. With outsourcing, Intigral operates as the manufacturer’s glass department, with units shipped to the customer’s production facility. With insourcing, Intigral takes ownership of IG fabrication within customer facilities, freeing financial and management resources.

“Our customers can configure more than 30 million unique IG units,” Bradley points out. “They can choose among six spacer systems as well as all the latest glass options from multiple suppliers. We make what our customers need to make their business plans work.”


Questions? Comments? Email us and share your thoughts...

Bilco Co. Consolidates Operations

The Bilco Co. will shift some manufacturing operations to its Zanesville, Ohio, facility, adding as many as 30 jobs...

The Bilco Co. will shift some manufacturing operations to its recently completed Zanesville, Ohio, facility, adding as many as 30 jobs in the process. Currently, the specialty access product manufacturer conducts its metal manufacturing operations in West Haven, Conn., but will blend its metal and non-metal production in early 2008.

The company headquarters, commercial product sales organization and other support functions will remain at its present location in West Haven, but all residential products will now be produced and shipped from Zanesville, which is geographically centered in its primary customer base.

“We are excited about our growth strategy in Zanesville as it brings significant improvement in both customer service and delivery,” says Robert Lyons Jr., Bilco president and chief executive officer.

The company manufactures special access products such as basement doors, window wells, roof scuttles, fire vents, and floor and pit doors. It has manufacturing facilities in Zanesville, Truman, Ariz., and Juarez, Mexico.


Questions? Comments? Email us and share your thoughts...

...

Home Sales Thud to 5-year Low Point
from CNNMoney.com
Housing markets continued to slump across the nation in August as the number of existing homes sold dropped for the sixth straight month to their lowest level in five years, according to the latest report from the National Association of Realtors... read more

Lowe's Issues Full-year Profit Warning
from newratings.com
Lowe's Companies Inc., the second-largest US home-improvement retailer, Monday warned that its full-year profits could fall short of its prior forecasts due to unfavourable weather conditions... read more

New Survey Reveals U.S. Cities That Rank as "Top Dog" in Customer Service
from destinationCRM.com
Phoenix, Ariz., is the best city in the United States in terms of customer service—doubly so for prospective home buyers. So says a new secret-shopper report from Grass Roots Performance Measurement, the new U.S. arm of U.K.-based The Grass Roots Group. The "Are You Being Served in the U.S.A.?" report shows the desert city leading the pack in overall customer service experiences... read more