glass installation

Riverside Keeps Growing Franchising Platform

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The Dwyer Group, a franchising platform company of The Riverside Company, has completed the add-on of Cumberland County Glass.

Cumberland County Glass (CCG) provides commercial glass glazing, fabrication, and installation services, primarily involving windows and doors used in new construction of commercial buildings. The company is based in Bowdoinham, ME (www.cumberlandcountyglass.com).

The Dwyer Group is one of the world’s largest franchising companies of trade service brands. CCG will be combined with Dwyer’s existing Portland Glass business, which is also based in Maine. Portland Glass provides repair and replacement services for residential, business and automotive glass needs (www.portlandglass.com).

The Dwyer Group, acquired by Riverside in August 2014, is now the owner of 13 service-based franchise organizations: Aire Serv, Glass Doctor, The Ground Guys, Mr. Appliance, Mr. Electric, Mr. Rooter, Mr. Handyman, Portland Glass, Rainbow International, Five Star Painting, Molly Maid, ProTect Painters, and Locatec.  These brands collectively have more than 2,500 franchises in ten countries.  The Dwyer Group was founded in 1981 and is headquartered in Waco, TX (www.dwyergroup.com).

The buy of CCG is the seventh add-on Dwyer and Riverside have completed since Riverside’s investment in 2014. The firm continues to seek other franchising companies to join Dwyer’s portfolio of service brands.

“We’re excited about the new capabilities CCG offers Portland Glass customers,” said Riverside Vice President Jason Fulton. “Combining these companies allows Portland Glass to offer more comprehensive commercial services and extends CCG’s footprint beyond Greater Portland and into Vermont and New Hampshire.”

Working with Mr. Fulton on the transaction for Riverside were Partner Sarah Roth, Senior Associate Marc Baudry, Associate Ryan Collins and Operating Partner Tom Anderson. Partner Anne Hayes worked on financing the transaction for the firm.

The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 440 transactions. The firm’s international portfolio includes more than 80 companies. The firm is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

Madison Capital Funding, Ares Capital, Antares Capital, NXT Capital and NewStar Financial provided financing for this transaction.

© 2016 Private Equity Professional • 10-4-16

Prospect Partners Buys All Glass & Windows

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Prospect Partners has acquired All Glass & Windows and Direct Window & Door Supply (All Glass), installers and distributors of impact-resistant glass and glass-related products.

Many of All Glass & Windows’ products, which include windows, doors, and commercial storefront and curtain walls, are made with glass that can withstand hurricane-force wind speeds of up to 180 mph. Customers include general contractors and builders serving residential, commercial and retail customers across Florida. The company is active in the new construction, renovation and replacement markets. All Glass & Windows is led by David Fleeman, President, and Chris Harris, CEO and is headquartered in Sarasota, FL (www.allglasswindows.com).

“At this juncture for All Glass & Windows, it was time to bring in an investor-partner. In addition to helpful financial resources, Prospect Partners offers a comfortable cultural fit and a shared business philosophy. All are important to our team, which is committed to building upon our successful track record,” said Mr. Harris.

“All Glass & Windows is fast-growing, with an exceptional reputation for product quality, execution and customer service,” said Prospect Partners Founding Principal Rick Tuttle. “We are thrilled to support David and Chris, two proven operators in the niche glass and glazing market with strong relationships and deep industry knowledge, as they continue to build their business and deliver superior service and innovative solutions to their customers.”

Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues of less than $75 million.  Areas of interest include niche manufacturing, distribution, and specialty service markets. Since 1998, Prospect Partners has built 48 platforms by investing in more than 140 businesses. The firm has $470 million of capital under management and is based in Chicago (www.prospect-partners.com).

All Glass & Windows becomes Prospect Partners’ 48th portfolio company overall, and the 12th in its current fund, Prospect Partners III, LP, which closed in August, 2010 with $200 million of capital commitments. Vice President Mike McInerney also worked on this transaction for Prospect Partners.

Prospect Partners plans to expand All Glass & Windows’ service offering and enter adjacent geographic markets. The company is actively looking to acquire providers of glass installation and/or distribution services in Florida and other southeastern states.

© 2016 Private Equity Professional • 9-23-16

Grey Mountain Acquires Illinois Glassworks

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Binswanger Glass, a portfolio company of Grey Mountain Partners acquired in December 2011, has acquired Illinois Glassworks, an installer of custom shower enclosures, mirrors, table tops, and architectural glass and glazing.

“The acquisition of Illinois Glassworks is representative of the strategic growth plan for Binswanger Glass, which centers on expanding into new markets that are contiguous to our current footprint and also seeking opportunities to partner with glass companies in markets beyond our current footprint,” said Norm Plotkin, CEO and President of Binswanger Glass.

Illinois Glassworks was founded in 1977 and is based in the Chicago suburb of Glenview (www.glassworks.net).

Binswanger Glass is a designer, retailer, and installer of architectural glass and aluminum products within the construction, residential, and automotive markets. The company has 65 locations across 15 states.  Binswanger Glass was founded in 1872 and is headquartered in Memphis (www.binswangerglass.com).

Grey Mountain Partners invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest include aerospace & defense, building products & materials, business process outsourcing, diversified manufacturing, energy & power, financial services, food & beverage, healthcare services & technology, industrial services, packaging, professional services, specialty chemicals, technology, transportation & logistics, wholesale and distribution. Grey Mountain was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo and is based in Boulder with an additional office in Minneapolis (www.greymountain.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-5-15