Add-on Acquisition • Chemicals

Quanex Building Products Acquires TruSeal Technologies

On December 31, 2003, Quanex Building Products acquired chemicals company TruSeal Technologies from Kirtland Capital Partners for 113M USD

Acquisition Context
  • This is Quanex Building Products’ 1st transaction in the Chemicals sector.
  • This is Quanex Building Products’ 5th largest (disclosed) transaction.
  • This is Quanex Building Products’ 5th transaction in the United States.
  • This is Quanex Building Products’ 1st transaction in Ohio.

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M&A Deal Summary

Date December 31, 2003
Target TruSeal Technologies
Sector Chemicals
Buyer(s) Quanex Building Products
Sellers(s) Kirtland Capital Partners
Deal Type Add-on Acquisition
Deal Value 113M USD

Target Company

TruSeal Technologies

Solon, Ohio, United States
TruSeal manufactures and markets a full line of patented and trademarked flexible insulating glass spacer systems and sealants for vinyl, aluminum and wood windows. The product separates and seals the glass within a window frame and acts as a thermal barrier to conserve energy and resist moisture.
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Buyer Overview 1

Buyer

Quanex Building Products

Houston, Texas, United States

Category Company
Founded 1927
Sector Building Materials
Employees7,068
Revenue 1.3B USD (2024)
DESCRIPTION

Quanex Building Products is a manufacturer of engineered materials, components, and systems serving the U.S. residential window and door markets. Quanex Building Products was founded in 1927 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 5 of 15
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 5 of 13
State: Ohio 1 of 4
Country: United States 5 of 13
Year: 2003 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-10-27 Temroc Metals

Hamel, Minnesota, United States

Temroc Metals is a producer of customized aluminum extruded and fabricated products for diverse markets, such as outdoor recreation, building and construction, medical and energy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 North Star Steel - Monroe

United States

Buy $115M

Seller Profile 1

SELLER

Kirtland Capital Partners

Orange Village, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kirtland Capital Partners (KCP) is a private equity firm focused on acquiring mature businesses operating in the US or Canada. KCP looks to be the lead investor in control positions in companies with significant barriers to entry, stable cash flows, and a strong market position. Sectors of interest include niche manufacturing, distribution, and business-to-business service companies. Kirtland was formed in 1977 and is based in Beachwood, Ohio.


Deal Context for Seller #
Overall 8 of 23
Sector: Chemicals 1 of 1
Type: Add-on Acquisition 2 of 10
State: Ohio 1 of 4
Country: United States 8 of 23
Year: 2003 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-14 Alkegen

Buffalo, New York, United States

Alkegen develops and manufactures high-performance specialty materials used in advanced applications including high-temperature industrial insulation, filtration media, battery technologies for electric vehicles and energy storage, and fire protection, among many others. Alkegen was founded in 1891 and is based in Buffalo, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Fairport Asset Management

Cleveland, Ohio, United States

Fairport Asset Management, LLC is an employee owned investment manager with approximately $748 million in assets under management. The firm also provides tax planning and management, charitable planning, life, disability and risk planning, personal financial action planning, estate planning, and cash-flow planning services to its clients. It primarily provides its services to high-net worth individuals. The firm also manages accounts for pension and profit sharing plans, charitable organizations, and corporations.

Sell -