Prospect Partners has acquired All Glass & Windows and Direct Window & Door Supply (All Glass), installers and distributors of impact-resistant glass and glass-related products.
Many of All Glass & Windows’ products, which include windows, doors, and commercial storefront and curtain walls, are made with glass that can withstand hurricane-force wind speeds of up to 180 mph. Customers include general contractors and builders serving residential, commercial and retail customers across Florida. The company is active in the new construction, renovation and replacement markets. All Glass & Windows is led by David Fleeman, President, and Chris Harris, CEO and is headquartered in Sarasota, FL (www.allglasswindows.com).
“At this juncture for All Glass & Windows, it was time to bring in an investor-partner. In addition to helpful financial resources, Prospect Partners offers a comfortable cultural fit and a shared business philosophy. All are important to our team, which is committed to building upon our successful track record,” said Mr. Harris.
“All Glass & Windows is fast-growing, with an exceptional reputation for product quality, execution and customer service,” said Prospect Partners Founding Principal Rick Tuttle. “We are thrilled to support David and Chris, two proven operators in the niche glass and glazing market with strong relationships and deep industry knowledge, as they continue to build their business and deliver superior service and innovative solutions to their customers.”
Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues of less than $75 million. Areas of interest include niche manufacturing, distribution, and specialty service markets. Since 1998, Prospect Partners has built 48 platforms by investing in more than 140 businesses. The firm has $470 million of capital under management and is based in Chicago (www.prospect-partners.com).
All Glass & Windows becomes Prospect Partners’ 48th portfolio company overall, and the 12th in its current fund, Prospect Partners III, LP, which closed in August, 2010 with $200 million of capital commitments. Vice President Mike McInerney also worked on this transaction for Prospect Partners.
Prospect Partners plans to expand All Glass & Windows’ service offering and enter adjacent geographic markets. The company is actively looking to acquire providers of glass installation and/or distribution services in Florida and other southeastern states.
© 2016 Private Equity Professional • 9-23-16
