Simonswerk Buys Hinge and Fittings Company Colcom Group

Wise Equity SGR has sold Colcom Group to Simonswerk GmbH, a supplier of hinges and hinge systems for doors.

Colcom was founded in 1961 by Ezio and Sergio Collio and is based in the Italian town of Nave (Brescia). The Colcom Group’s business is in the development, production and distribution of hinges and fittings for glass doors. The company also offers hydraulic hinges with damping and closing functions. Colcom was acquired by Wise Equity
in 2014. As part of the strategic development of the company, the French company Sadev, a producer of fittings for external glass systems such as façades, parapets and balustrades was purchased by Colcom in 2017.

The Colcom Group has 135 employees and generated turnover of approximately $30.6 million in 2018 with sales in more than 50 countries around the world. Colcom has production sites in Nave as well as several international distribution companies (Canada, Spain and Benelux). The French company Sadev is located near Annecy in France and has
subsidiaries in Switzerland and the U.S.

Following the acquisition of a majority stake in Anselmi & C. S.r.l., a producer of concealed hinges for light-weight doors, the acquisition of the Colcom Group S.p.A. is a major step
in expanding the Simonswerk product portfolio, according to the company.

“We are continuing the international expansion of Simonswerk. The products and the team of Colcom complement our extensive portfolio of hinges with regard to the segment of glass doors,” says Michael Meier, managing director of Simonswerk. “In addition, Sadev allows us to expand our product range to glass fittings for outdoor use on façades, parapets and balustrades. This segment allows us to get into the important project business at an even earlier stage.”

“As an integral part of the renowned Simonswerk Group, Colcom and Sadev are excellently positioned for the future, in order to develop our product portfolio and progress further in serving international sales markets,” adds Gabriele Basile, who has managed the Colcom Group for the last four years and will continue in his role as CEO.

In order to realize its growth opportunities, Simonswerk will continue to invest in the new company, as well as in all other locations, according to the company. The entire Colcom Group management team will stay on board on a long-term basis.

Jeld-Wen Acquires VPI

In a move that’s expected to add approximately $60 million in annualized revenue, Jeld-Wen Holding Inc. has entered a conclusive agreement to acquire VPI Quality Windows of Spokane, Wash. The acquisition will be accretive immediately to both adjusted earnings per share (EPS) and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) margins.

VPI is a vinyl window manufacturer and specializes in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects.

“VPI will provide Jeld-Wen with a foundation for growth in the multi-family window market, providing us with a premier product and brand in the segment,” says Gary Michel, Jeld-Wen president and chief executive officer. “We believe that VPI’s capabilities and service model, combined with Jeld-Wen’s national distribution footprint, will provide significant growth potential.”

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