The Riverside Company has sold Polar Windows to Henry & Wallace, Morris Capital Management, and members of the company’s senior management team.
Polar Windows manufactures and sells premium window and door systems designed to provide energy efficiency, durability and comfort to residential customers living in climates prone to extreme weather. The company sells its window and door systems through a network of sales agents. Polar Windows is led by CEO Stephen Segal and is based in Winnipeg (www.polarwindows.com).
Riverside acquired Polar Windows in December 2007. After a challenging four-year period from 2010 to 2013, the company grew substantially and the business returned to profitability after upgrading the management team, enhancing the sales force and streamlining operations to reduce costs.
Henry & Wallace is a management company with a portfolio of products primarily focused on the real estate and building products industries. The company is based in Knoxville, TN (www.henryandwallace.com).
Morris Capital Management is a private equity firm focused on investing equity capital in turnarounds, non-distressed leveraged buyouts and businesses re-engineering in the middle market. The firm targets manufacturing and distribution businesses with annual revenues up to $75 million. Morris Capital is based in Chattanooga, TN (www.morriscapitalmanagement.com).
SSG Capital Advisors (www.ssgca.com) was the investment banker to Polar Windows on this transaction.
© 2017 Private Equity Professional | January 26, 2017
