PWP Growth Equity has invested in Western Window Systems. Financial terms weren’t announced. Phoenix-based Western Window is a door and window maker. PWP is the growth equity fund of Perella Weinberg Partners.
PHOENIX, AZ, August 3, 2015 – Western Window Systems, a premier door and window manufacturer, today announced it has received an investment from PWP Growth Equity, a private equity fund affiliated with Perella Weinberg Partners that invests in leading growth-oriented, lower middle market companies. PWP Growth Equity is partnering with Western Window Systems CEO Scott Gates and his current management team for this transaction; Jason Funk and Scott Leach, previously executives at Western Window Systems, will be retiring from the company.
Western has been a leader in the door and window industry since 1959, using precision craftsmanship and the highest quality hardware to create customized products from multi-slide pocket doors to bi-folding doors and windows that facilitate indoor/outdoor living. The company, currently producing its fifth straight year of 50% sales growth, was seeking a new partner to help them execute their ambitious plans to expand rapidly throughout North America.
CEO Scott Gates said, “PWP Growth Equity brings significant value to Western Window Systems, including their impressive track record of success with businesses in the building products and services sectors. We look forward to partnering with their team as we continue to pursue aggressive growth opportunities and further serve our customers.”
David Ferguson, Co-Head of PWP Growth Equity, said, “Western Window Systems has a strong and differentiated competitive position and a high-caliber leadership team. We are thrilled to support Scott and the rest of the team in the realization of their strategic goals during this exciting phase of growth.”
As part of the investment, Mr. Ferguson; Chip Baird, Co-Head of PWP Growth Equity; and John McKee, Managing Director of PWP Growth Equity; will join Western Window Systems’ Board of Directors.
About WWS Acquisition, LLC
Western Window Systems is a market‐leading resource for doors and windows primarily used in wide opening applications that facilitate indoor/outdoor living. The company manufactures aluminum and vinyl doors and windows sold into the high‐end custom home market, the production home market, and select commercial markets.
About PWP Growth Equity
PWP Growth Equity is a $600 million private equity fund affiliated with Perella Weinberg Partners Capital Management LP. PWP Growth Equity is focused on growth-oriented, lower middle market companies, primarily in the United States, across the consumer, services, and industrial sectors. PWP Growth Equity seeks to partner with existing owners and management teams, providing both capital and experience in a tailored and flexible structure, to support the growth plans and vision for value creation.