Volume 40, Issue 10 October 2005
Brockway Moran and Partners
Acquires GED Integrated Solutions
Brockway Moran and Partners Inc., a Florida-based private equity firm, has acquired GED Integrated Solutions Inc. of Twinsburg, Ohio. GED’s existing executive management team will continue to direct the company’s operations located in Twinsburg, Ohio, and Hauppauge, N.Y, according to a release issued by Brockway Moran and Partners on September 7.
“We are excited to partner with GED’s outstanding management team to build upon the company’s strong historical growth,” said Michael E. Moran, managing partner of Brockway Moran and Partners. “GED has a history of introducing innovative products to the residential door and window market, which have allowed customers to dramatically lower their production costs, increase their operational efficiency and improve product quality and performance. We believe a significant opportunity exists to work with management to continue to expand GED’s technological and market leadership.”
“We look forward to working with Brockway Moran and Partners,” said Ron Auletta, chief executive officer of GED. “We have aggressive growth plans predicated on giving customers what they want—an integrated, one-stop solution that automates and streamlines the process of manufacturing windows and doors.”
Morgenthaler Partners, a middle-market management-led buyout firm, acquired GED in 2000. “We are very proud of our association with GED and its management team, which generated an attractive IRR and a significant cash-on-cash return to our limited partners. Using the revolutionary Intercept technology as a foundation from which to grow, we worked closely with Ron Auletta and his team to transform GED into a full-service provider to door and window manufacturers through a combination of internal growth initiatives and a strategic add-on acquisition,” said Peter Taft, general partner at Morgenthaler.
Lupe R. Ramirez Acquires Lone Star Glass
Lone Star Glass Inc., a privately held Houston-based glass company, has been acquired by Lupe R. Ramirez, an existing shareholder. Ramirez and Joe D. Creswell were co-owners of the company. Ramirez and two of his sons, Stanley and James, will continue to operate the company. Creswell will retire from the glass industry and pursue a career as a licensed realtor. Compass Bank SBA Division in Houston handled the stock purchase.
Founded in 1973 by Ramirez and Creswell, Lone Star Glass was incorporated in 1976 and today employs 28 people out of three locations in Southeast Texas. The company handles commercial and retail flat glass installations, as well as automotive replacement glass.
Carolina Door Controls Now Part of the DORMA Group
DORMA has announced the acquisition of Carolina Door Closers Inc. (CDC) of Durham, N.C. CDC, which becomes part of the DORMA Group, has 20 branch offices in the Eastern United States that install and service door products and entrance systems for commercial and industrial applications.
According to the announcement, the acquisition supports DORMA’s business model of working with independently owned automatic door distributors in select markets and through factory-direct branches in other areas.
BFS Diversified Products Acquires Copper Sales
BFS Diversified Products LLC, parent organization of Firestone Building Products Co., has acquired Copper Sales Inc. As part of the acquisition, Firestone is now offering a full line of metal roofing products being marketed under the name UNA-CLAD by Firestone. In addition, BFS Diversified Products will benefit from Copper Sales’ vertical wall panel and column cover product lines for the entire building envelope. UNA-CLAD by Firestone will operate as a division of BFS Diversified Products and will remain headquartered in Anoka, Minn.
Included in the acquisition are all of Copper Sales personnel and manufacturing assets, including more than 500,000 square feet of production facilities in Anoka, Minn., Jackson, Miss., Morrisville, Pa., Warren, Mich., and Pompano Beach, Fla.
BFS Diversified Products plans to retain all capital assets and employees, including Mike Wallace, president of Copper Sales, and other members of the executive management team.
“We are excited at the accelerated growth and expansion opportunities this acquisition offers,” said Wallace. “The synergies between Copper Sales and Firestone will tremendously benefit our customers, vendors and employees. It is rare to find two companies that share such similar cultures and philosophies. Customer satisfaction and quality products are key priorities for both Copper Sales and Firestone, and we are proud to be associated with a company that is employee- and community-oriented and look forward to an exciting future.”
“Copper Sales is a perfect fit for us, and metal roofing is an excellent, strategic complement to our single-ply and asphalt-based roofing systems,” said Michael Gorey, president of Firestone Building Products and chief executive officer of BFS Diversified Products.
“Copper Sales is a recognized leader with an outstanding reputation for product involvement and top quality manufacturing backed by knowledgeable technical support and customer service.”
The ETL SEMKO division of Intertek Group plc has announced it has acquired 100 percent of the issued share capital of Omega Point Laboratories Inc. (OPL) of Elmendorf, Texas. Omega Point Laboratories is involved in fire testing of building materials and systems.
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