Andersen Corp. to Purchase Silver Line Building Products
Andersen Corp. of Bayport, Minn., has signed a definitive agreement to purchase Silver Line Building Products Corp., a manufacturer of vinyl windows and patio doors. Founded in 1947, Silver Line is a privately-owned company based in North Brunswick, N.J., with additional facilities in Massachusetts, North Carolina, Georgia, Ohio, Texas and Illinois.
"We are very excited about this opportunity to expand our business into new market segments, especially via the leading vinyl window manufacturer," said Jim Humphrey, president and chief executive officer at Andersen. "Vinyl windows serve a segment of the market that is growing rapidly. Adding this product line to the enterprise's portfolio will enable an Andersen company to provide windows and doors for virtually any new construction or home improvement project in any area of the country."
The purchase by Andersen is contingent on the successful completion of a due diligence process and regulatory approval. Terms were not disclosed. A tentative closing date was set for June 30.
Andersen plans to operate this business as a standalone subsidiary, with Ken Silverman, chairperson and chief executive officer of Silver Line, leading his current management team.
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