American Insulated Glass Acquires the Assets of Faith Glass of Alabama

Atlanta-based American Insulated Glass LLC (AIG) has purchased the assets of the fabrication business unit of Faith Glass located in Semmes, Ala. These assets include a tempering oven, cutting table and stock glass inventory.

According to the announcement, the acquisition will position the AIG Pensacola operation to increase its cutting capacity and improve lead times on custom tempered, monolithic and insulating glass units.

“This represents a strategic opportunity to make Pensacola a self-sufficient fabrication facility and supports the ability to better serve customers in the pan-handle of Florida and south Alabama,” says Billy Blair, president and CEO of AIG.

Currently, AIG has four fabrication facilities located throughout the Southeast, with each facility producing its own tempered and insulating glass for commercial and residential applications.

Tower Extrusions Purchases Assets of Ascend Custom Extrusions

Ascend Custom Extrusions, of Highlander Partners in the Dallas area, has sold substantially all its assets to Tower Extrusions, a manufacturer of fabricated aluminum extrusions products.

The sale represents the culmination of a deliberate strategy that the middle-market private investment firm Highlander Partners and Ascend management put in motion in 2010 to take advantage of the rapid growth of population and construction in Texas and the surrounding region, according to the companies. Highlander and Ascend have expanded the operating capacity from one initial press to its current three presses to keep up with customer demand.

“There is great opportunity for the resulting business to capitalize on
strong market demand as the business will continue to benefit from
significant demand for aluminum extrusions across a broad range of end markets,” says David Newby, CEO of Ascend.

“Highlander is very pleased with the performance of Ascend over the last eight years and believes this sale will broaden the product offering and capabilities for its customers in one of the strongest extrusion markets in the country,” adds Mark Blanchat, Highlander partner and chairman of Ascend.

Tower, based in Olney, Texas, expanded its capacity two years ago by purchasing the assets of the former Extruders in Wylie, Texas. Its purchase of Ascent further expands its presence and capacity in Wylie, according to the company.

“[This purchase] will enhance Tower’s capability to serve our long-term customers as well as new customers, providing Tower with much needed additional capacity,” says Mark McClelland, managing partner and CEO of Tower.

“Tower’s existing capability for anodizing and fabricating aluminum will enhance our ability to further service Ascend’s customer base,” adds Tower vice president of sales and marketing Stan Guess.

SCM Group Completes DMS Acquisition

SCM Group, an Italian machinery and industrial equipment company, and parent company of Caledonia, Mich.-based CMS North America, has finalized the acquisition of Diversified Machine Systems (DMS), located in Colorado Springs, Colo. DMS is a designer, manufacturer, distributor and servicer of CNC machinery, particularly for many plastics and composite materials applications. This acquisition will strengthen SCM Group’s position in these sectors, according to the company.

“The addition of DMS to the CMS family of brands broadens our portfolio of capabilities, and expands available technologies we can deploy within our core business of offering custom CNC machine solutions,” says SCM Group CEO Andrea Aureli. “By adding DMS together with CMS and SCM Group capabilities, we can offer our customers a wider range of solutions with expanded features and greater opportunities for creating manufacturing efficiencies and higher return on investment.”

Patrick Bollar, founder of DMS and a partner in the company, will continue in his role as chief technology officer, leading innovation and product development. Tanya Williams will become CEO. Matt Dietrich, CEO of CMS North America, will direct and support Bollar and Williams to ensure proper alignment of strategy, capture important synergies and preserve both companies’ technological and geographical strengths.

Installed Building Products Acquires
Two Installation Companies

Installed Building Products (IBP), an installer of insulation and complementary building products, has acquired Carolina Glass & Mirror Inc. and Hamilton Benchmark Inc.

Carolina Glass, located in Garner, N.C., installs commercial and residential glass applications and serves the greater Raleigh market. Founded in 1993, Carolina Glass has annual revenue of approximately $6.2 million.

Hamilton Benchmark installs fire-stopping solutions for the large commercial construction market with one location near Milwaukee. The 20-year-old company has annual revenue of approximately $1.3 million.

“We are excited to expand our presence in North Carolina, which represents one of the nation’s strongest real estate markets,” says Jeff Edwards, chairman and CEO. “With the addition of Carolina Glass, IBP now offers insulation, shower enclosures and mirrors, garage doors, gutters, blinds, and roofing installation services to commercial and residential customers throughout the greater Raleigh market. I am also pleased to announce the acquisition of Hamilton Benchmark, which represents the second acquisition in our Alpha commercial installation platform.”

“So far this year we have closed 12 acquisitions representing approximately $83 million of acquired revenues. Acquisitions remain a key component of our growth plan and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products and end markets,” adds Edwards.

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