MPE Partners has made an investment in Arizona Shower Doors LLC, a maker of custom glass shower doors and enclosures. No financial terms were disclosed. Arizona will partner with DreamLine, a portfolio company of MPE, to form a company for the glass shower door and enclosure market.
CLEVELAND and BOSTON, Sept. 17, 2019 /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced today an investment in Arizona Shower Doors, LLC (“Arizona” or “the Company”), a leading designer and manufacturer of custom glass shower doors and enclosures. Arizona will partner with MPE’s existing portfolio company, DreamLine, (“DreamLine”), to form a technology-driven leader offering endless possibilities for customers across the entire glass shower door and enclosure market.
MPE and DreamLine partnered in the transaction with Paul and Pete Knadler, the Arizona entrepreneurs, who will remain in their leadership roles at the Company. Graham Schena, Partner at MPE, said, “We saw a great strategic fit to bring DreamLine’s market leading technology to the custom shower door market leveraging Arizona’s extensive product offering and distribution network.”
Paul Knadler added, “Pete and myself are very excited to partner with DreamLine and MPE and believe DreamLine’s market leading technology will continue to differentiate us from our competitors in the custom shower door market by leveraging our excellent people, service and network.”
Mike Korsky, DreamLine entrepreneur and Board member, added, “We have always had a lot of respect for Arizona and believe this partnership is a great extension of our vision.”
Chris Yankowich, CEO of DreamLine added, “Arizona has built an outstanding reputation in product quality and service to its customer base. The partnership between DreamLine and Arizona creates a platform with an extensive portfolio of over 10,000 products with endless possibilities for customers across the entire glass shower door and enclosure market.”
LBC Credit Partners, AEA Middle Market Debt Funds and HIMCO provided financing to support the transaction.
Headquartered in Phoenix, AZ, Arizona is a market leading designer, manufacturer and distributor of custom glass shower doors and enclosures. Arizona has built an outstanding reputation in product quality and service over 32 years of experience providing customers with endless possibilities of custom products. Arizona services customers from a national distribution network with locations in Arizona, Colorado, Utah, Oregon, Illinois, and Florida.
Headquartered in Warminster, PA, DreamLine is a market leading, technology-driven designer, manufacturer, and marketer of premium shower products including frameless glass shower doors, shower enclosures, tub doors, and acrylic shower bases. DreamLine offers over 5,000 products across over 60 models including top selling frameless shower doors. For more information please visit www.DreamLine.com
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 – $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.