M&A Deal Summary

Pella Acquires Custom Windows & Doors

On October 3, 2019, Pella acquired building materials company Custom Windows & Doors from Nautic Partners, Jefferies Capital Partners, Triangle Capital and NewStar Financial

Acquisition Highlights
  • This is Pella’s 6th transaction in the Building Materials sector.
  • This is Pella’s 6th transaction in the United States.
  • This is Pella’s 1st transaction in Florida.

M&A Deal Summary

Date 2019-10-03
Target Custom Windows & Doors
Sector Building Materials
Buyer(s) Pella
Sellers(s) Nautic Partners
Jefferies Capital Partners
Triangle Capital
NewStar Financial
Deal Type Add-on Acquisition

Target

Custom Windows & Doors

Ocala, Florida, United States
Custom Window Systems, Inc. is a designer and manufacturer of windows, doors, and porch enclosure products in the southeastern United States. CWS offers a full range of aluminum impact-resistant windows and doors, aluminum and vinyl non-impact windows and doors, and porch enclosure products. Custom Window Systems, Inc. was founded in 1986 and is based in Ocala, Florida.

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Buyer(S) 1

Buyer

Pella

Pella, Iowa, United States

Category Company
Founded 1925
Sector Building Materials
DESCRIPTION

Pella is a designer and manufacturer of windows and doors for residential homes and commercial applications. Pella was formed in 1925 and is headquartered in Pella, Iowa.


DEAL STATS #
Overall 6 of 9
Sector: Building Materials M&A 6 of 9
Type: Add-on Acquisition M&A Deals 6 of 9
State: Florida M&A 1 of 2
Country: United States M&A 6 of 9
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-17 Avanti Industries

Glendale, Arizona, United States

Avanti is a vinyl window and patio door manufacturer based in Glendale, Arizona. Avanti produces and installs windows for 19 of the Nation’s top 30 single-family homebuilders, within the Phoenix, Las Vegas, and Tucson markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Win-Dor

Brea, California, United States

Win-Dor is a vinyl window and door manufacturer. Win-Dor is sold nationally and specializes in expansive, multi-panel door systems. Win-Dor is located in Brea, California.

Buy -

Seller(S) 4

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.


DEAL STATS #
Overall 41 of 47
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 16 of 18
State: Florida M&A 2 of 3
Country: United States M&A 41 of 46
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Nystrom Counseling

New Brighton, Minnesota, United States

Nystrom & Associates provides heal from trauma, grief, depression, anxiety and overwhelming stress. Nystrom & Associates was founded in 1991 and is based in New Brighton, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-18 Spartech

St. Louis, Missouri, United States

Spartech is a producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and roll stock products, and packaging solutions for a wide spectrum of customers. Spartech was founded in 1960 and is based in St. Louis, Missouri.

Buy -
SELLER

Jefferies Capital Partners

New York, New York, United States

Category Private Equity Firm
Founded 1994
PE ASSETS 850M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Jefferies Capital Partners is a private equity investment firm that seeks to invest in later-stage growth companies, management buyouts, and support of corporate expansion and industry consolidation. The firm makes equity and equity-linked investments between $20 million and $100 million per transaction. Jefferies does not invest in start-ups, early-stage ventures or real estate. The firm seeks companies with revenue between $10 million to $500 million per annum. Jefferies targets companies involved in the following industries: consumer, energy, financial services, healthcare, manufacturing and distribution, media, telecommunications and transportation. Jefferies Capital Partners is based in New York, New York.


DEAL STATS #
Overall 27 of 28
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 16 of 17
State: Florida M&A 2 of 2
Country: United States M&A 26 of 27
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-26 Hillstone Environmental Partners

Denver, Colorado, United States

Hillstone Environmental Partners LLC is a company focused on water infrastructure solutions for the oil and gas industry. The company concentrates on developing, owning and operating assets related to the delivery, transportation, treatment, recycling and disposal of water throughout U.S. shale basins. Hillstone Environmental Partners is headquartered in Denver, Colorado.

Buy $600M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 NeuStar

Reston, Virginia, United States

NeuStar is a global information services provider driving the connected world forward with trusted, holistic identity resolution. The company serves many of the world’s brands to grow and guard their businesses with the most complete understanding of how to connect people, places, and things. The combination of Neustar’s unique, accurate and real-time identity system and its cloud-based workflow solutions empower businesses to make actionable, precise, and valuable decisions across marketing, risk, IT/security, network & operations departments. As the current sole provider to the U.S. Number Portability Administration Center, Neustar also facilitates the routing of all telephone call and text messages in the U.S. NeuStar was formed in 1996 and is based in Sterling, Virginia.

Sell $3.1B
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 66 of 72
Sector: Building Materials M&A 3 of 3
Type: Add-on Acquisition M&A Deals 35 of 35
State: Florida M&A 6 of 6
Country: United States M&A 65 of 71
Year: 2019 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-19 Main Street Gourmet

Cuyahoga Falls, Ohio, United States

Main Street Gourmet is a wholesale bakery that develops, produces, and sells a broad line of bakery products. Customers include fast-casual restaurants, bakery/cafes, coffee chains, family restaurants, grocery retailers, and broad-line distributors. Main Street Gourmet was founded in 1987 and is based in Cuyahoga Falls, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-19 Krystal

Dunwoody, Georgia, United States

Krystal is an operator of a chain of restaurants well known for its signature menu item, the famous Krystal Burger, with its steamed-in onion flavor. Krystal hamburgers are still served fresh and hot off the grill on the iconic square bun at 300 restaurants in 10 states. Krystal was founded in 1932 and is based in Dunwoody, Georgia.

Sell -
SELLER

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 6 of 6
Sector: Building Materials M&A 3 of 3
Type: Add-on Acquisition M&A Deals 3 of 3
State: Florida M&A 2 of 2
Country: United States M&A 6 of 6
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-02 Radius Equipment Finance

Boston, Massachusetts, United States

Radius Equipment Finance will provide flexible financing options for middle market companies to fund purchases of essential-use business equipment. The operational unit will be based out of Boston and sales professionals will cover territories across the U.S.

Sell -