Brockway Moran and Partners Acquires GED Integrated Solutions
Brockway Moran and Partners Inc., a Florida-based private equity firm, announced September 7 that it has acquired GED Integrated Solutions Inc. of Twinsburg, Ohio, a provider of high quality equipment, integrated system solutions and services for the residential door and window industry from Morgenthaler Partners.
GED's existing executive management team will continue to direct the company's operations located in Twinsburg, Ohio and Hauppauge, N.Y, according to a release by Brockway Moran and Partners.
"We are excited to partner with GED's outstanding management team to build upon the company's strong historical growth, said Michael E. Moran, managing partner of Brockway Moran and Partners. "GED has a history of introducing innovative products to the residential door and window market which have allowed customers to dramatically lower their production costs, increase their operational efficiency and improve product quality and performance. We believe a significant opportunity exists to work with management to continue to expand GED's technological and market leadership."
"We look forward to working with Brockway Moran and Partners," said Ron Auletta, chief executive officer of GED. "We have aggressive growth plans predicated on giving customers what they want - an integrated, one-stop solution that automates and streamlines the process of manufacturing windows and doors."
Morgenthaler Partners, a middle-market management-led buyout firm, acquired GED in 2000. Peter Taft, general partner at Morgenthaler said, "We are very proud of our association with GED and its management team, which generated an attractive IRR and a significant cash-on-cash return to our limited partners. Using the revolutionary Intercept technology as a foundation from which to grow, we worked closely with Ron Auletta and his team to transform GED into a full-service provider to door and window manufacturers through a combination of internal growth initiatives and a strategic add-on acquisition."
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