Custom Glass Solutions, a portfolio company of Stellex Capital Management, has acquired Cameron Glass.
CamGlass is a fabricator of tempered glass products including flat, press, sag, and cylindrically bent systems used in agricultural equipment, laboratory equipment, construction equipment, marine equipment, and basketball backboards.
Other value-added services provided by the company include assembly, drilling, and screen printing. CamGlass was founded in 1978 by President Jim Cameron and his father, Roy Cameron, and today has 125 employees at its facility near Tulsa in Broken Arrow, Oklahoma.
Custom Glass Solutions (CGS) is a producer of large-format, laminated glass systems, as well as flat, bent, and tempered glass systems. CGS products include large, one-piece windshields, door glass, insulating glass, and roof glass as well as more advanced technologies like coated glass, various forms of heated glass, and glass with embedded LEDs. CGS’ products are used in many specialty transportation segments including RV, bus, truck, construction and agriculture, and off-highway and municipal vehicles.
CGS, led by CEO Neale Yeomans, was founded in 1974 and is headquartered 65 miles north of Columbus in Upper Sandusky, Ohio. Stellex acquired CGS from Guardian Glass, a subsidiary of Koch Industries, in October 2018.
“As a family-owned company, CamGlass shares similar values and beliefs as we do at CGS,” said Mr. Yeomans. “In many respects, CamGlass is a perfect fit for CGS as we continue to expand our offerings.”
The add-acquisition of CamGlass follows CGS’s May 2019 buy of NASG, a Pennsylvania-based maker of safety and security glass used in light and heavy rail cars, locomotives, and military and commercial vehicles, from Consolidated Glass Holdings.
“The acquisition of CamGlass is another important step in achieving CGS’s strategic growth objectives,” added Mr. Yeomans. “With CamGlass, we enhance our tempering capabilities and our ability to offer value-add assemblies, allowing CGS to be a one-stop-shop for customers’ glass needs.”
Stellex invests from $50 million to $150 million in United States or Europe-based companies with enterprise values from $50 million to $500 million and revenues greater than $100 million. Sectors of interest include manufacturing and service businesses within the automotive, aerospace, building products, consumer, defense, food, general industrial, and transportation industries. The firm has more than $2.6 billion in assets under management with offices in New York, Detroit, and London.
© 2021 Private Equity Professional | October 14, 2021