U.S. private equity firm Riverside Co has sold Polar Windows of Canada Ltd, a Winnipeg maker of window and door systems for residential customers living in climates prone to extreme weather.
The news was announced on the website of U.S. investment banking firm SSG Capital Advisors LLC, which advised Polar on the deal.
No financial terms were disclosed. The buyer was a consortium that included Henry & Wallace LLC (H&W) and Morris Capital Management, a U.S. private equity firm.
Riverside acquired Polar in December 2007. SSG said the company “grew substantially and the business returned to profitability” in the post-2013 period after upgrading the management team, enhancing the salesforce and streamlining operations.
Photo courtesy of Reuters/Hyungwon Kang