M&A Deal Summary

ORIX Private Equity Solutions and Bounds Equity Partners Acquire Thermo-Tech Windows and Doors

On November 9, 2015, mezzanine finance firm ORIX Private Equity Solutions and private equity firm Bounds Equity Partners acquired building materials company Thermo-Tech Windows and Doors

Acquisition Highlights
  • This is ORIX Private Equity Solutions’ 3rd and Bounds Equity Partners’ 1st transaction in the Building Materials sector.
  • This is ORIX Private Equity Solutions’ 11th and Bounds Equity Partners’ 10th transaction in the United States.
  • This is ORIX Private Equity Solutions’ 1st and Bounds Equity Partners’ 2nd transaction in Minnesota.
Investment Fate
  • Thermo-Tech Windows and Doors was sold to a strategic buyer in 2018.

M&A Deal Summary

Date 2015-11-09
Target Thermo-Tech Windows and Doors
Sector Building Materials
Buyer(s) ORIX Private Equity Solutions
Bounds Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Thermo-Tech Windows and Doors

Sauk Rapids, Minnesota, United States
Thermo-Tech Windows and Doors LLC is a manufacturer of vinyl clad windows and patio doors for residential housing and multi-family apartments. Thermo-Tech Windows and Doors was founded in 1993 and is based in Sauk Rapids, Minnesota.

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Buyer(S) 2

DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


DEAL STATS #
Overall 12 of 27
Sector (Building Materials) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 4 of 7
State (Minnesota) 1 of 2
Country (United States) 11 of 25
Year (2015) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Flexo Transparent

Buffalo, New York, United States

Flexo Transparent, Inc. provides multi-colored flexible packaging including custom-printed rollstock, bags, pouches, and sleeves primarily for food grade and retail consumer products with a focus on private label accounts with short to medium-sized production runs. Flexo Transparent, Inc. was founded in 1954 and is based in Buffalo, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-13 Kovach Building Enclosures

Chandler, Arizona, United States

Kovach Building Enclosures is a designer, manufacturers, and installer of panel and glazing systems for commercial building enclosures. Kovach offers services to meet design applications for complex building projects in the higher education, healthcare, municipal, commercial, sports arena, and airport end markets. Kovach Building Enclosures was founded in 1969 and is based in Chandler, Arizona.

Buy -
Buyer

Bounds Equity Partners

Highland Park, Illinois, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Bounds Equity Partners LLC (BEP) is a private equity firm focused on smaller company investments (business with $1 million+ of EBITDA). The Firm targets growth companies with market/industry segment leadership, defensible market positions, and operating profit margin of at least 10 percent. BEP looks to invest at least $1 million per transaction and prefers situations where entrepreneurs are seeking liquidity. Target sectors include building materials and services, business services, healthcare products and services, niche distribution and specialty manufacturing. Bounds Equity Partners LLC was formed in 2009 and is based in Highland Park, Illinois.


DEAL STATS #
Overall 10 of 11
Sector (Building Materials) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 8 of 9
State (Minnesota) 2 of 2
Country (United States) 10 of 11
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Illinois Glassworks

Glenview, Illinois, United States

GlassWorks is a glass fabricator and installer of shower doors, mirrors, table glass, windows and patio doors in Illinois. Glassworks was formed in 1977 and is headquartered in Glenview, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-22 Clad Rex

Franklin Park, Illinois, United States

Clad Rex is a supplier of vinyl-coated and prepainted steel and aluminum coils, sheets & blanks. Our finishes enhance the beauty, durability, functionality, and value of our customers' products. Clad Rex was founded in 1961 and is based in Franklin Park, Illinois.

Sell -