Greco Aluminum Railings, a welded aluminum balcony railing manufacturer, announced today that O2 Investment Partners has partnered with Frank and Larry Greco and acquired a majority interest in the company.
Greco is a manufacturer of welded aluminum balcony railing systems for the North American multifamily housing market. Greco serves both the new construction and restoration markets for high, medium and low-rise condominiums, apartment buildings, hospitality and senior living facilities. The company was founded in 1991 and has 40 employees. Greco is headquartered in Windsor, ON with offices in Toronto and Bloomfield Hills, MI (www.grecorailings.com).
“We are very pleased by the confidence that O2 Investment Partners has shown in Greco Aluminum Railings and we look forward to working with O2 to further grow our business, both in Canada and the U.S. markets,” said Frank Greco, President of Greco Aluminum Railings. “As Larry and I looked for partners to help us take Greco to the next level, it was important to us and to our business that we have an investor and partner who shares our vision for growing the business. In addition to O2 Investment Partners’ experience in building manufacturing businesses, several of its principals also have significant experience in the real estate, construction and multifamily housing markets.”
O2 Investment Partners makes control investments in companies with EBITDAs from $2 million to $8 million located anywhere in the US and Canada but has a preference for the Midwest and the Great Lakes regions. The firm’s typical transaction size is $5 million to $50 million. Industries of interest include manufacturing, niche distribution, select service and technology businesses. O2 Investment Partners is based in Bloomfield Hills, MI (www.o2investment.com).
“We are very pleased with our investment in Greco and its employees. The vision that Frank and Larry Greco and their management team have developed for this business are truly exciting and we look forward to supporting the Greco team in achieving their plan,” said Jay Hansen, President of O2 Investment Partners. “We believe that Greco has the right combination of a talented and experienced workforce, efficient manufacturing processes, diversified customer base, and diversified markets to be extremely competitive in the North American multifamily housing market, which we expect to present significant growth opportunities in the years ahead. With this team and the support of our financial partners, such as Comerica and Penn Mezzanine, we are very optimistic about realizing these growth opportunities.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-11-12