ShelterLogic, which is backed by RFE Investment Partners and Charter Oak Equity LP, has acquired Illinois-based Arrow Storage Products, a maker of outdoor steel storage solutions. No financial terms were disclosed.
RFE Investment Partners, Charter Oak Equity, LP and the management team of ShelterLogic announced today that their portfolio company ShelterLogic has acquired Arrow Storage Products (Arrow). Arrow is a leading designer and manufacturer of outdoor steel storage solutions. The company is based in Breese, IL with a second facility in Haskell, NJ. The transaction is the first add-on acquisition ShelterLogic has completed under the current ownership.
The acquisition of Arrow expands ShelterLogic’s product offering of steel framed, fabric covered sheds and garages to now include all steel storage products. “This acquisition broadens ShelterLogic’s product offering and capabilities in the sheltering and storage category, and brings together two of the leading brands in the industry” said Zubin Avari, General Partner at Charter Oak Equity. Michael Rubel, Principal at RFE adds, “By combining Arrow with ShelterLogic, we will be better able to serve our customers and retail partners.”
Jim Raymond, CEO of ShelterLogic said “We are excited about Arrow joining the ShelterLogic team. This combination will create a strong company that is poised to innovate and grow.”
RFE Investment Partners
RFE Investment Partners is a private equity investor with over 30 years of small buyout experience investing in growth companies in partnership with strong management teams. RFE partners with management of small businesses and pursues compelling growth strategies using their experience and network of contacts. They have a proven skill set in business services, niche manufacturing and healthcare services sector.
Charter Oak Equity
Charter Oak Equity is a leveraged buyout firm located in Westport, Connecticut focused on smaller middle market deals. Charter Oak Equity is the third investment vehicle in the Charter Oak family and was formed in 2006. The firm invests primarily in manufacturing, packaging, and medical device / engineering companies with EBITDA of at least $5 million. The partners of the firm are Zubin Avari, Mark Ullman and Paul Roughan.
ShelterLogic is a global manufacturer and marketer of fabric-covered, steel frame shelters and canopies for diverse consumer and commercial applications, including sheds, garages, greenhouses and pop-up canopies. The company is headquartered in Watertown, CT and is led by Jim Raymond as CEO and Robert Silinski as President.
Arrow Storage Products
Arrow Storage Solutions is a leading designer, manufacturer and marketer of outdoor steel storage solutions globally. Over a half-century of operations, Arrow has established a strong brand and leadership position in the consumer storage-category