Security Chimneys is a manufacturer of residential and commercial venting products and accessories located in Laval, Canada (www.securitychimneys.com).
“We are excited to see Security Chimneys join forces with M&G Duravent. Duravent’s focus and strength in the venting market will accelerate the growth at Security Chimneys, and the transaction allows our company to focus on the fireplace and stove markets. We thank the employees of Security Chimneys for their contribution to the success of both Lennox Hearth Products and Innovative Hearth Products and wish them the best going forward,” said John Caple, a Managing Director with Comvest.
Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, accessories and venting products for the specialty retail, residential new construction and industrial markets. The company has manufacturing plants in Auburn, WA; Union City, TN; Russellville, AL; and Santa Ana, CA (www.lennoxhearthproducts.com) (www.fmiproducts.com).
The Comvest Group provides debt and equity to middle-market companies. For debt investments the firm will invest from $2 million to $20 million per transaction in companies with $10 million to $200 million of revenue that have positive or negative EBITDA. For equity investments the firm will invest from $10 million to $50 million per transaction in companies with $15 million to $500 million of revenue that have positive or negative EBITDA. Since 2000, Comvest has invested more than $1.6 billion of capital in over 110 public and private companies worldwide. The firm is based in West Palm Beach, FL (www.comvest.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-7-12