Binswanger Glass, a portfolio company of Grey Mountain Partners acquired in December 2011, has acquired Illinois Glassworks, an installer of custom shower enclosures, mirrors, table tops, and architectural glass and glazing.
“The acquisition of Illinois Glassworks is representative of the strategic growth plan for Binswanger Glass, which centers on expanding into new markets that are contiguous to our current footprint and also seeking opportunities to partner with glass companies in markets beyond our current footprint,” said Norm Plotkin, CEO and President of Binswanger Glass.
Illinois Glassworks was founded in 1977 and is based in the Chicago suburb of Glenview (www.glassworks.net).
Binswanger Glass is a designer, retailer, and installer of architectural glass and aluminum products within the construction, residential, and automotive markets. The company has 65 locations across 15 states. Binswanger Glass was founded in 1872 and is headquartered in Memphis (www.binswangerglass.com).
Grey Mountain Partners invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest include aerospace & defense, building products & materials, business process outsourcing, diversified manufacturing, energy & power, financial services, food & beverage, healthcare services & technology, industrial services, packaging, professional services, specialty chemicals, technology, transportation & logistics, wholesale and distribution. Grey Mountain was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo and is based in Boulder with an additional office in Minneapolis (www.greymountain.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-5-15
