Bounds and ORIX Exit Thermo-Tech
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Bounds and ORIX Exit Thermo-Tech

Harvey Building Products, a portfolio company of Dunes Point Capital, has acquired Thermo-Tech Windows & Doors from Bounds Equity Partners and ORIX Mezzanine & Private Equity.

Thermo-Tech is a manufacturer of vinyl windows and doors that are used for residential repair and remodeling. The company sells its products through a network of more than 500 dealers throughout the Upper Midwest, including locations in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, Michigan, Illinois and Indiana as well as Canada.

Bounds Equity Partners and ORIX Mezzanine & Private Equity acquired Thermo-Tech in September 2015. Thermo-Tech was founded in 1993 and is headquartered 70 miles northwest of Minneapolis in Sauk Rapids, MN (www.ttwindows.com).

Dunes Point acquired Harvey Building Products, a manufacturer of windows and doors and a distributor of other building products such as siding, roofing, decking, and trim, in September 2015. Harvey sells its products directly to professional contractors and builders.  The company has approximately 1,500 employees and operates two manufacturing facilities – one each in New Hampshire and Massachusetts. Harvey also has 13 product showrooms and 36 warehouse locations throughout the East Coast. The company was founded in 1961 and is headquartered near Boston in Waltham, MA (www.harveybp.com).

Dunes Point Capital is a family office and private investment firm that makes control investments in companies operating in the general industrial and energy sectors. Dunes Point targets companies with enterprise values of up to $500 million. The firm was founded in 2013 by Timothy White, a former Senior Managing Director of GSO Capital Partners and Blackstone. Dunes Point is based in Rye, NY (www.dunespointcapital.com).

Bounds Equity makes control investments in companies that are located east of the Rocky Mountains with minimum EBITDA of $1.5 million, and companies within a five-hour drive of Chicago with minimum EDITDA of $750,000. Sectors of interest include building materials and services; business services; consumer products; and specialty manufacturing. The firm was founded in 2009 by Mark Bounds and is based in the Chicago suburb of Highland Park (www.boundsequity.com).

ORIX Mezzanine & Private Equity (OMPE) provides mezzanine debt and equity capital to lower middle market companies that have EBITDA of $5 million or greater.  OMPE makes investments from $10 million to $30 million in a variety of businesses and geographic areas for buyouts, mergers and acquisitions, recapitalizations and refinancings, and growth and expansions situations. The group’s investments are predominately with independent sponsors and also include investments with funded equity sponsors, family offices, and directly with entrepreneurs and management teams. OMPE (www.orixmpe.com) is a business unit of Dallas-based ORIX USA (www.orix.com).

© 2018 Private Equity Professional | March 23, 2018

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