Consolidated Glass Holdings (CGH), a portfolio company of Grey Mountain Partners, has acquired the assets of North American Specialty Glass (NASG) out of Chapter 7 Bankruptcy. “With a well-capitalized balance sheet, NASG will be stronger than ever and is poised for tremendous growth. The unique capabilities of NASG will further differentiate and add value to our investments in the glass fabrication space,” said Beth Lesniak, Vice President of Grey Mountain.
North American Specialty Glass is one of the largest safety and security glass producers in the United States, serving customers worldwide in the transportation, architectural, military and other specialty end-use sectors. The company is headquartered in Trumbauersville, PA (www.naspecialtyglass.com).
“With a commitment to customer service and quality products, NASG has a reputation for providing consistently superior laminated glazing systems and components. At CGH, our goal is to bring long-term sustainability to NASG by running a first-class operation and leveraging our other glass fabrication businesses to expand the scope of our offering. We welcome NASG’s talented management team, and we look forward to immediately reopening the business and working with customers to satisfy their needs,” said Tom Ryan, CEO of Consolidated Glass Holdings.
Grey Mountain Partners invests in middle market companies with enterprise values between $30 million and $150 million. The firm is based in Boulder, CO (www.greymountain.com).
“We are thrilled to partner with Grey Mountain and CGH,” said Ted Jenny, President of NASG. “This acquisition and injection of additional capital saved nearly 100 jobs and will allow us to rapidly return to production. We greatly appreciate the continued support of all of our customers through this process. The NASG team is motivated and ready to provide our customers with an even higher level of service and quality products.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-18-12
