Investment Firm Acquires Cascade WindowsDecember 18th, 2012 | Category: Industry News
Cascade Windows, based in Spokane, Wash., announced that Altamont Capital Partners, a $500 million private equity firm, acquired the company as part of a restructuring with existing lenders and equity holders.
Randy Emerson, chief executive officer of Cascade, says he is excited about the partnership. “Altamont’s operational focus and expertise in building middle-market companies will be invaluable to us as we look to grow the company,” he says. “This transaction also significantly improves our balance sheet, allowing us the flexibility to better serve our customers.”
The vinyl window company has manufacturing facilities in Spokane, Wash., Portland, Ore., and Salt Lake City, Utah, and serves the new construction and repair and remodeling markets.
“Cascade is one of the top window manufacturer platforms in the Western U.S., with a longstanding reputation of providing great products to its customers,” says Randall Eason, managing director of Altamont. “Randy and his team have done an excellent job of managing the business over the last several years in a difficult operating environment−this recapitalization will position the company to better serve its customers going forward. We are excited to support the company’s next stage of growth as the sector rebounds from an unprecedented downturn.”
Terms of the transaction were not disclosed. Duff & Phelps served as Cascade’s financial advisor on the transaction.