Sun Capital Partners, the Florida-based private equity firm, acquired the assets of Vitro America via a 363 bankruptcy sale. Vitro America, which serves construction and auto replacement markets with architectural glass and aluminum products, is based in Memphis, Tennessee. Aaron Wolfe, Principal at Sun Capital Partners, worked on the transaction for the private equity firm. Specifics were not publicized.
Affiliate of Sun Capital Partners, Inc. Acquires Vitro America
Leading U.S. Fabricator, Distributor and Installer of Architectural Glass and Aluminum Products
Adds to Sun Capital’s Affiliated Portfolio Glass Companies
BOCA RATON, FL – June 20, 2011 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has acquired substantially all of the assets of Vitro America, LLC (“Vitro America” or “the Company”) through a 363 bankruptcy sale. The sale was approved on June 17, 2011, by the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division. Vitro America is a leading U.S. fabricator, distributor and installer of architectural glass and aluminum products.
Based in Memphis, TN, Vitro America serves the construction and auto replacement markets. The company operates three distinct, largely independent business units and has a presence in nearly every U.S. state. Its Architectural Products segment focuses largely on the commercial construction market, while the Binswanger Glass unit operates retail locations and also installs architectural glass for office buildings, retail locations, general contractors, homebuilders and homeowners. A third division, Super Sky Products, provides turnkey products and services for contractors seeking installations of skylights.
“We are delighted to acquire these businesses, which are industry-leading glass companies,” said Aaron Wolfe, Principal at Sun Capital Partners. “This acquisition will significantly expand the capabilities of our existing affiliated portfolio companies in this sector. We are eager to grow these businesses and will continue to actively pursue acquisition opportunities in this space.”
Sun Capital has prior experience in the glass and aluminum markets through its affiliated portfolio companies Arch Aluminum & Glass, LLC, one of North America’s largest fabricators of architectural glass and aluminum products, and United Glass Corporation, a leading U.S. manufacturer and supplier of architectural glass and aluminum products.
“The acquisition by an affiliate of Sun Capital will allow Vitro America to better serve our customers by working with Sun’s existing affiliated portfolio companies and capitalizing on Sun’s national presence in the sector. We look forward to working with them to improve our business and pursue growth opportunities,” said Arturo Carrillo, President of Vitro America.
“As we begin to work with the three companies, our mission will be to create the best company in the industry regarding quality and on-time delivery,” said Jeff Leone, Chief Executive Officer of Arch Aluminum & Glass. “The broad product portfolio involving glass and metal plus the addition of Super Sky should benefit customers by providing a wide range of services for all of their fabrication needs.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 265 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.
About Vitro America
Headquartered in Memphis, Tennessee, Vitro America is a leading fabricator, distributor, and installer of glass in the construction, automotive replacement, and furniture markets. The company serves more than 40,000 customers from more than 100 locations throughout the United States.