Volume 48, Issue 11- November 2013

Mergers&Acquisitions

Andersen Corp. Penetrates Specialty Door Market With Weiland Acquisition

With Weiland Acquisition Bayport, Minn.-based Andersen Corp., and Weiland Sliding Doors and Windows Inc., have entered into a definitive agreement under which Andersen will acquire Weiland for an undisclosed amount. The boards of directors for the two privately held companies unanimously approved the transaction.

Specialty doors are a growing market segment as outdoor living spaces have increased in popularity,” says Jay Lund, Andersen chairman, president and CEO. “This acquisition accelerates our entry into this important category and closely aligns with the expansion of our architectural products.”

“The two privately held companies share many of the same values, including a commitment to employees, quality and innovation,” says Bill Weiland, founder of Weiland. “This is an exciting day for us, and offers additional resources to increase our product offerings and performance, strengthening both companies.”

Sue Weiland, chief financial officer and principal, says the company has been approached a few times about being acquired over the past ten years.

“When the opportunity presented itself this time, it seemed like we were talking to the right people at the right time,” she says. “Like us, they [Andersen] are a privately-held company with similar values, including a commitment to employees, quality and innovation. Our big doors will fit into their architectural collection and create a more complete offering to the custom, high-end market. We are very excited about being a part of their efforts to meet both design and performance aspirations of our market.”

She adds that employees have been very excited about this new opportunity.

“Sure, there have been some questions and concerns, but once we’ve discussed them and answered their questions, they’ve been very supportive of the decision,” she says. “They are looking forward to big things and being part of a bigger organization.”

Sue Weiland and Steve Donner, general manager, will stay on and continue day-to-day management. Andersen intends to continue Weiland production and operations in the San Diego area.

“We’re pleased because Andersen has made a long-term commitment to our current location as well as our management team and current staff,” says Sue Weiland. “We will continue to do business as usual as we work through an integration plan. We’re especially excited because the plan includes preserving our existing dealer relationships, providing new opportunities and new and enhanced product offerings.”

Andina to Acquire Tecnoglass S.A. and C.I. Energia Solar S.A. E.S. Windows

Andina Acquisition Corporation (Andina) and privately-held Tecnoglass S.A. and C.I. Energia Solar S.A. E.S. Windows (sister companies under common management, collectively, Tecnoglass) have signed a definitive agreement under which Tecnoglass will become a subsidiary of Andina.

Headquartered in Barranquilla, Colombia, Tecnoglass is a manufacturer of architectural and industrial glass and windows, and associated aluminum products for the global residential and commercial construction industries. The company sells to more than 300 customers in North, Central and South America, and exports approximately 43 percent of its production to foreign countries, with the United States accounting for approximately 30 percent of company revenues in 2012, according to the company.


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