Syracuse Glass Co. Forms Partnership With Lineage Capital

Syracuse Glass Co. (SGC) and Lineage Capital have formed a partnership to support the continued growth and performance of the 110-year-old fabricator. The Dwyer family will retain a significant ownership stake in SGC, and John Dwyer will continue to serve as CEO, president and chairman of the board of directors.

Dwyer says the move shouldn’t have a major impact on the company.

“Our new partner likes our performance record, our team and our plans for the future,” he says.

Dwyer says he’s not getting any younger, and this partnership will allow for the start of a transition over time.

“I am so proud of what our team has accomplished over the years, and I am excited by what our partnership with Lineage holds for the future,” says Dwyer. “Already, Lineage and its network of resources have evaluated our processes and made recommendations that will help us as we strive to be the best supplier to our customers, bar none. The core values and culture of SGC and Lineage are very closely aligned. I look forward to this next chapter in the SGC success story.”

SGC serves glazing contractors, manufacturers, home improvement contractors and glass retailers throughout Upstate New York and Eastern Pennsylvania. The company offers several custom fabricated glass products, as well as custom aluminum entrances and storefronts.

Founded in 2003, Lineage is a Boston-based private equity firm that invests exclusively in owner-managed and family-controlled businesses in the middle market.

Fabricators Divide NWI in Dual Acquisitions

In early January, Southgate, Calif.-based Glasswerks acquired the assets of Northwestern Industries (NWI), a subsidiary of Japan-based Central Glass Co. Ltd. NWI has two fabrication plants, one in Seattle and one in Yuma, Ariz. But Glasswerks had its eye on only one.

All management and personnel at the Yuma plant were to remain onboard and the company would retain the NWI name and branding. However, the Seattle Times reported that Glasswerks intended to close the Seattle plant. Since then, Hartung Glass Industries of Tukwila, Wash., has agreed to purchase 100% of NWI’s Seattle plant assets. Under the terms of the agreement, NWI Seattle will continue to operate from its current location and facility for up to another 12 months beyond the previously announced timeline of February 2020.

“The acquisition of NWI Seattle represents a very important transaction for
Hartung as the company seeks to minimize any disruptions to the northwest
glass industry and to our customers. [They] can feel confident their current and future projects will be fully supported by the combined efforts of both NWI Seattle and Hartung Glass,” says Hartung CEO/owner Nick Sciola. “In addition to supporting our customers, the acquisition of NWI Seattle will allow Northwestern employees to continue in their current roles beyond February and, following the full combination of operations with Hartung Glass, an opportunity to join our combined company.”

A statement from Glasswerks regarding the Yuma acquisition said it is the
company’s goal and commitment to NWI customers and employees to avoid any business disruptions and ensure a smooth acquisition process. This acquisition marks its latest investment as Glasswerks expands its reach and share in the Western glass marketplace, according to a company statement.

Randy Steinberg, president of Glasswerks, says, “I’ve long admired the excellent reputation for quality and service that NWI has built in this industry. Beyond the complementary product offerings, I feel our values, culture and service align as well. We’re happy to welcome NWI employees to the Glasswerks family.”

Mainstreet Computers Buys Software Provider Dialmark LLC

Convenient Payments Holdings LLC, a portfolio company of The Beekman Group, announced that its subsidiary Mainstreet Computers has acquired Dialmark LLC (doing business as Digital Business Controls), a Sandy, Utah-based provider of business software to the auto and flat glass industries.

Through its Chameleonware point-of-sale application, DB Controls provides
software that supports a full range of business functions, including ticketing,
invoicing and accounting and inventory functions. DB Controls uses a SaaS business model.

Mainstreet CEO Brad Rhoades says, “The DB Controls team and their focus on value-add solutions are a perfect complement to Mainstreet. We believe that both companies will be better positioned to deliver outstanding customer tools along with service and support, and we continue to look for similar acquisition opportunities.”

Convenient Payments Holdings CEO Casey Leloux says, “We are thrilled to welcome DB Controls to the Convenient Payments family. Our vision for Convenient Payments has always been to partner with software companies like DB Controls, and support growth by allowing them to leverage our infrastructure for critical back-office functions
such as marketing, finance and accounting and payment processing.”

AIG Completes Fourth Acquisition in Two Years With A. L. Smith Glass Purchase

American Insulated Glass LLC (AIG), has acquired A.L. Smith Glass Company in Ijamsville, Md., located just east of Baltimore. This is the company’s fourth acquisition in less than two years. Founded by Alton and Joyce Smith, A.L. Smith Glass has been serving the glass and glazing industry for nearly five decades. Mike Torre and Russell Hardy will stay on as part of the AIG management team.

“The business model and company culture of A.L. Smith Glass combined with the experienced team of employees made the company an ideal candidate to bring into the AIG family of businesses,” says Billy Blair, president and CEO of AIG. “We look forward to positioning this fabrication facility to effectively meet the needs of the commercial
building segment.”

SmartLift Acquires Rights in GLG Production ApS After Bankruptcy

Danish company SmartLift A/S has acquired part of the assets, including various rights and product patents, from the estate in bankruptcy of GLG Production ApS in Farsø, Denmark.

SmartLift CEO Nicolai Tange Jørgensen says, “For strategic reasons, we have chosen to acquire part of the assets from the estate of GLG Production, and believe that there may be commercial synergies in the acquisition in the longer term.”

SmartLift takes over both activities and stock in the bankruptcy estate, so that the company is able to provide support to users of GLG lifts. The company will also work with GLG Production customers in North America on parts and lift upgrades.

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