O3 Industries has purchased substantially all the assets of Solar Seal Co. from Consolidated Glass Holdings (CGH). The new corporation holding the assets has been named Solar Seal LLC. This asset purchase of the Solar Seal business included the equipment and business processes; the 100+ staff and operations will remain at the preexisting business’ South Easton, Mass., facility, and will be integral to the future of Solar Seal LLC, according to the announcement.
“Through this process, O3 has been able to secure another fantastic heritage business to its portfolio of companies. I have no doubt that Solar Seal will thrive again as O3 has a proven track record of challenging industry norms, are able to provide financial strength and drive entrepreneurial spirit,” says Ryan Spurgeon, president of Antamex, another O3 company. The transaction was completed April 2, 2021.
An announcement from the Solar Seal LLC board of managers reads, “Solar Seal has a rich 50-year history in supply of custom fabricated glass products in North America. It’s an exciting time for all of us as the company’s prospects are incredibly bright. We are steadfast in our ability to remain as motivated, supportive and responsive to our vendors as we are to our employees and customers.”
O3 is the family investment company that holds multiple standalone businesses, and has a diversified portfolio of companies and experience in corporate carveouts, metals and construction-based businesses. Antamex, previously acquired from Oldcastle Building Envelope®, is one of its companies, in addition to Solar Seal, which will operate as its own business under O3.
Spurgeon told USGNN that Solar Seal will see capital investments in the 8-figures within the first 12-18 months of operation to improve manufacturing safety, rejuvenate the company spirit, lead quality output, reliability and enhance product offering.
“Solar Seal will be rejuvenated with financial and entrepreneurial strength. Solar Seal LLC is a new venture established with a contrarian view to lead the glass industry by offering bespoke products in the years to come. We intend to invest extensively into safety, people, plant, equipment and processes to ensure Solar Seal LLC establishes a leading position in high-quality value-added ICI and residential glass products. We have never strived to be the largest, though we are ambitious to ensure we become the best – safety, quality and reliability.”
In February, CGH announced it was closing its J.E. Berkowitz and Columbia Commercial Building Products (CCBP) operations. In the announcement, it said Solar Seal remained open and operating, though a notice of the plant closure was sent to employees based on the current situation.
Last week, Frameless Hardware Co. announced it had acquired substantially all assets of CCPB from CGH.