Swiftsure Capital and Nitze-Stagen Capital Partners have acquired Quantum Windows and Doors. Quantum was sold to the investor group by Pendulum Investment which acquired the company in 2005.
Quantum Windows is a manufacturer of hand-crafted wood windows and doors with approximately 50% of the company’s products sold in the state of Washington. However, the company is increasingly seeing new opportunities for product sales from across the country. Over the past 12 months the company has experienced a 40% increase in revenues.
Quantum was founded in 1982 in a barn by general contractors who were dissatisfied with mass produced windows available at the time. Today, the company has 62 employees and operates out of a 56,000-square-foot facility located north of Seattle in Everett, WA. Quantum has product showrooms in Washington, California, British Columbia and Connecticut. The company is led by its President Melissa Benton who will remain with the company under the new ownership (www.quantumwindows.com).
As part of the acquisition, Jeff Klein has been appointed Chief Executive Officer of Quantum. Mr. Klein, a senior executive in the window manufacturing industry, was previously Senior Vice President of Ply Gem Industries – a publicly traded maker of building products – and President of several window companies owned by Ply Gem. Prior to working with Ply Gem, he was Senior Vice President of Milgard Manufacturing which was sold by the Milgard family in 2001 to Masco. James Milgard is currently an Advisory Partner with Swiftsure Capital. “Quantum is a national leader in custom wood window manufacturing,” said Mr. Klein. “They have set the standard for superb craftsmanship and are the go-to name for complex architectural projects that very few companies can execute.”
“There are a number of well-managed Northwest companies, like Quantum, that are seeking a change of ownership for generational transition issues or otherwise,” said Gordon Gardiner, Managing Partner of Swiftsure Capital. “Swiftsure’s goal is to find those companies and help them realize their full growth potential. We’re happy to have led this deal for Quantum, and we look forward to seeing the company flourish.” Swiftsure Capital is a private equity and investment banking firm focused on opportunities in the Pacific Northwest. The firm was founded in 2004 by Scott Wilson and is headquartered in Seattle (www.swiftsurecapital.com).
Nitze-Stagen Capital Partners, Swiftsure’s partner on this transaction, invests in emerging companies based in the Pacific Northwest. The firm was founded by Peter Nitze and is headquartered in Seattle (www.nitzestagencp.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-14-15
