M&A Deal Summary

Cortec Group and NewStar Financial Acquire CGI Windows and Doors

On February 28, 2007, private equity firm Cortec Group and NewStar Financial acquired building materials company CGI Windows and Doors

Acquisition Highlights
  • This is Cortec Group’s 4th and NewStar Financial’s 2nd transaction in the Building Materials sector.
  • This is Cortec Group’s 17th and NewStar Financial’s 3rd transaction in the United States.
  • This is Cortec Group’s 1st and NewStar Financial’s 1st transaction in Florida.
Investment Fate
  • CGI Windows and Doors was sold to a publicly-traded strategic buyer in 2014 for 111M USD.

M&A Deal Summary

Date 2007-02-28
Target CGI Windows and Doors
Sector Building Materials
Buyer(s) Cortec Group
NewStar Financial
Deal Type Buyout (LBO, MBO, MBI)

Target

CGI Windows and Doors

Miami, Florida, United States
CGI Windows and Doors is a producer of high quality, architectural-grade impact-resistant aluminum windows and doors. The Company?s products meet or exceed the most demanding testing standards and offer superior protection from high-velocity wind and airborne debris resulting from hurricanes and tropical storms. CGI services residential single and multifamily, commercial and government/institutional markets for new construction, remodeling and replacement applications.

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Buyer(S) 2

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 17 of 49
Sector: Building Materials M&A 4 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 12 of 20
State: Florida M&A 1 of 4
Country: United States M&A 17 of 48
Year: 2007 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-03 S&S Industries

Yonkers, New York, United States

S&S Industries, Inc. is a manufacturer of brassiere underwire. The company operates manufacturing facilities in Central America and Asia to supply its customers’ global operations. S&S drives innovation in the industry by designing products that enhance the wearability, style, and durability of underwire bras. S&S Industries was founded in 1947 and is based in Yonkers, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-20 The Hygenic

Akron, Ohio, United States

Hygenic is a manufacturer of natural rubber, latex and synthetic rubber products primarily serving the medical and therapy/fitness industries as well as some other industrial applications.

Buy -
Buyer

NewStar Financial

Boston, Massachusetts, United States

Category Company
Founded 2004
Sector Financial Services
Employees122
Revenue 220M USD (2015)
DESCRIPTION

NewStar Financial, Inc. is an internally-managed, commercial finance company with $7.3 billion of assets managed across two complementary business lines — middle market direct lending and asset management. The Company's direct lending activities are focused on meeting the complex financing needs of companies and private investors in the middle markets through specialized lending groups that offer a range of flexible debt financing options. Credit investments are originated directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. Through its asset management platforms, NewStar offers a range of investment products employing credit-oriented strategies focused on middle market loans and liquid, tradeable credit.


DEAL STATS #
Overall 3 of 8
Sector: Building Materials M&A 2 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 3
State: Florida M&A 1 of 2
Country: United States M&A 3 of 8
Year: 2007 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Angelle Concrete Group

Baton Rouge, Louisiana, United States

Angelle Concrete Group LLC is a vertically integrated construction materials company with operations in Louisiana, Texas and Tennessee. Angelle is a leading regional producer and supplier of ready-mixed concrete and is also one of the largest domestic, independently-owned importers of cement (the primary raw material in concrete) in the U.S.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-28 AL Solutions

New Cumberland, West Virginia, United States

AL Solutions is a distributor of titanium and zirconium additives.

Buy -