FdG Associates divests stake in Sunrise Windows to Riverside

FdG Associates has sold its stake in Sunrise Windows to The Riverside Company.

FdG Associates has sold its stake in Sunrise Windows to The Riverside Company. No financial terms were disclosed. Sunrise is a maker of vinyl windows and sliding doors.


NEW YORK–(BUSINESS WIRE)–FdG Associates, a leading middle-market private equity firm, announced today that it has sold its interest in Sunrise Windows Ltd. (Sunrise), a leading manufacturer and marketer of premium performing vinyl windows and sliding doors, to The Riverside Company. Terms of the transaction were not disclosed.

FdG Associates led the recapitalization of Sunrise in March 2005 with the goals of providing liquidity for certain equityholders and supporting the development of Sunrise’s operational infrastructure in order to accelerate its growth.

“We are very proud of our investment in Sunrise. It is an excellent example of our strategy of investing alongside entrepreneurs, families and management teams in outstanding middle-market businesses with unrealized growth potential. Since partnering with Gary Delman and his management team in 2005, they have seamlessly executed on a collaborative value creation plan, driving growth in both revenues and EBITDA,” said David Gellman, Managing Director at FdG Associates.

Over the past five years, FdG Associates has supported Sunrise as it broadened its executive management capabilities, launched new brand platforms and expanded its dealer base. Also key to Sunrise’s success has been its deep commitment to continuous improvement, which has allowed the Company to streamline its manufacturing operations, while also enhancing product quality for its customers. “The incredible improvements we’ve made across our business have really benefited our dealers. Today we offer an even wider selection of features and options on our fully customized windows and doors, and we’ve continued to raise the bar on providing excellent service and support to our customers,” said Gary Delman, Chief Executive Officer of Sunrise.

“We have been very pleased with our partnership with FdG; not only have they been instrumental in helping us attain our growth objectives, but they’ve done it in a very practical manner – focusing on the strategy and key value drivers and allowing me and my team to run the business,” said Gary Delman. “FdG’s expertise in supporting the rapid growth of smaller, entrepreneurial companies such as ours, along with our passion for our customers’ success, proved to be the perfect combination to aid Sunrise in further solidifying its leadership position in the custom replacement window industry.”

Kyle Wheeler, Principal at FdG Associates said, “Through an extremely challenging economic environment, Sunrise’s management team has meaningfully outperformed the industry due to their unwavering focus on delivering innovative, premium quality windows and responsive, high-touch customer service and support. We believe all the pieces are in place for Gary and his team, along with their new financial partners, to continue to grow Sunrise’s share in the highly fragmented replacement window industry.”

BB&T Capital Markets advised Sunrise on the transaction. Benesch, Friedlander, Coplan & Aronoff provided legal advice to Sunrise.

About FdG Associates
FdG Associates is a private investment firm providing equity capital to North American-based middle-market growth companies with sound businesses and unrealized potential. By building a partnership with management and offering creative problem solving and strategic, long-term planning focused around key corporate initiatives, FdG empowers companies to achieve their full growth potential and increase their equity value.
FdG will typically commit from $15 million to $50 million in equity to sponsor management buyouts, recapitalizations and growth-oriented capital investments in private and public companies. The deep and diverse experience of the firm’s executive team enables FdG to pursue opportunities in the business and consumer services, distribution, light manufacturing, retail and consumer products sectors.

FdG is headquartered in New York, NY. For additional information, please visit www.fdgassociates.com.

About Sunrise Windows Ltd.
Sunrise Windows Ltd., headquartered in Temperance, MI, is a leading manufacturer and marketer of premium performing, replacement vinyl windows and sliding doors serving a growing base of specialty dealers and contractors in 35 states. Sunrise manufactures a complete selection of fully customizable products across several price points, including multiple color, glass, frame, hardware and other add-on features. The Company provides customers with an unparalleled depth and breadth of custom products together with a high-touch customer service experience.

For additional information, please visit www.sunrisewindows.com.