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Equity firm acquires United States Aluminum parent

Post Time:Nov 12,2013Classify:Industry NewsView:95

Genstar Capital LLC of San Francisco bought International Aluminum Corp., Monterey Park, Calif., in a deal worth $228 million, according to an April 2 Genstar announcement. International Aluminum is the parent company for United States Aluminum, of Waxahachie, Texas, manufacturer of commercial storefront, window and door systems. Clark Olson, marketing manager for United States Aluminum says Genstar approached United States Aluminum, targeting it for its growth potential. “They pursued us for about a year, because they expect to see aggressive growth,” he says. Genstar will provide United States Aluminum, and the rest of International Aluminum, with additional resources, allowing the company to expand further than it could with the resources it had previously, Olson says. Darren Gold, managing director for Genstar, says the acquisition follows several other deals for the company in building products. “IAL is in the sweet spot of our investment focus because it operates in the building products industry—a sector we understand and where we have previously created value,” Gold says. Previous deals in the sector include the acquisition of Gentek Building Products Inc., an Akron, Ohio-based manufacturer of aluminum and vinyl siding, windows and doors; and the acquisition of Panolam International Inc., a Shelton, Conn.-based manufacturer of decorative laminates. International Aluminum employs 1,600 people in 15 locations. Olson says Genstar has not yet instituted any changes at the company. “They’ve only had us for a couple of weeks,” Olson says. “So, I imagine there will be changes.”Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/equity-firm-acquires-united-states-aluminum-parentAuthor:

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