Cross Keys Capital said Thursday that it advised on the sale of Glassworks and Arcadia Residential to Bounds Equity Partners. Cross Keys Capital acted as financial advisor to the owners of Chicago-based Glassworks and Arcadia Residential, the firm said. Arcadia specializes in manufacturing custom windows and glass walls, among other products. Glassworks designs and manufactures glass for residential and commercial markets.
Cross Keys Capital is pleased to announce that an investment group led by Mark Bounds, Managing Director of Bounds Equity Partners, LLC (“Bounds”) has acquired Glassworks and Arcadia Residential in a combined transaction with a simultaneous closing. The transaction closed on February 23, 2011.
Cross Keys Capital acted as the exclusive financial advisor to the owners of Glassworks and Arcadia Residential. “Roger Schoenfeld was very creative and diligent in finding a suitor for our business, ultimately selling our company together with another similar business to create incremental value in the transaction,” stated David Feldman, President of Glassworks. I was impressed with how Roger helped me through the sale process from start to finish and with his negotiating skills and reasoned approach to getting a deal completed”, stated Robert Criz, President of Arcadia Residential.
Glassworks is one of the leading glass companies in the Chicago area. Founded in 1977, the foundation of Glasswork’s success is a company-wide commitment to detail and quality and a total dedication to customer satisfaction. Glassworks designs, manufactures, sells and installs glass for a large variety of residential and commercial applications, including mirrors for bathrooms, walls and closet doors; shower doors; and glass for windows, walls, panels, shelving and backsplashes.
About Arcadia Residential
Arcadia is a high-end custom job shop, specializing in a variety of products, including custom windows and window walls, structural glass walls, curtain walls, glass railings, storefronts, shower enclosures, mirrors, and custom glass of all types typically used in high design custom residential and commercial applications. Founded in 1986 by Robert Criz as a spin-off from Arcadia Products, Arcadia utilizes specialized equipment and skilled laborers to fabricate, assemble and install its products.
About Bounds Equity Partners, LLC
Mark Bounds is the founder and Managing Director of Bounds Equity Partners, LLC, a private equity company with a focus and success in building materials and services, business services, healthcare products and services, niche distribution and specialty manufacturing. Mark Bounds has led investments in 50 companies since he started in the private equity investment business in 1988, co-founding Heller Equity Capital Corporation.