Tower Arch Capital has acquired Panoramic Doors in partnership with the company’s senior management team.
Panoramic Doors designs, manufactures and distributes patented, independent panel patio door systems that are used in both residential and commercial applications. The company was founded in 2010 by CEO Alan Rees and is headquartered in Oceanside, CA (www.panoramicdoors.com).
“When people see a Panoramic door, they quickly realize the value and functionality of our product,” said Mr. Rees. “We have grown rapidly over the last few years and are excited to have Tower Arch’s support as we expand distribution and open new manufacturing facilities.”
“We are thrilled to partner with Alan and the Panoramic team. They have built unique and innovative products which allow customers to beautifully combine indoor and outdoor living spaces,” said Rhett Neuenschwander, a Partner at Tower Arch. “We look forward to continuing to execute on Alan’s vision for growth and expanding consumer awareness of this exciting company.”
Tower Arch looks to acquire control positions in entrepreneur and family-owned businesses. The firm invests across the United States in companies with revenues between $20 million and $150 million or EBITDA between $5 million and $25 million. The firm was founded by former professionals from Huntsman Gay Global Capital and includes partners Rhett Neuenschwander, David Parkin, Ryan Stratton, and David Topham. Tower Arch closed its debut fund at a hard cap of $272 million in July 2014 and is based south of Salt Lake City in Draper UT (www.towerarch.com).
Choate Hall & Steward (www.choate.com) provided legal services to Tower Arch on this transaction.
© 2018 Private Equity Professional | August 8, 2018