VPI Quality Windows to Purchase Mercer’s Door and Window AssetsApril 17th, 2014 by DWM Magazine
Spokane, Wash.-based VPI Quality Windows (VPI) announced it has signed a letter of intent to acquire substantially all the door and window manufacturing assets of Mercer Windows through its recently closed Beaverton, Ore., location. The transaction, which is subject to customary closing conditions, will be completed as soon as possible, but no later than June 30, 2014.
“This acquisition provides a variety of outstanding additions to our high-performance window product line, and also allows us to rapidly add high-quality aluminum door and window offerings to our customers,” says Burke Blevins, president and CEO of VPI. “We are proud to have the opportunity to keep the Mercer legacy alive, making Mercer windows, with Mercer employees, at the Mercer facility.”
“We’re delighted with this outcome,” says Dan Boverman, chief restructuring officer for Mercer Industries. “Mercer Industries had significant discussions with many door and window companies over the past few weeks and VPI emerged as the best fit. Not only will VPI be a quality steward of the Mercer Windows product line, customers, employees and suppliers, it is well positioned to allow us to quickly resume normal business operations, which is great news for our customers.”
VPI will acquire the Mercer brand and manufacturing assets, which include several proprietary window design technologies. VPI intends to retain a majority of Mercer Windows’ employees, including management, inside sales staff and production workers at Mercer’s Beaverton facilities, as well as field sales staff.
Terms of the transaction were not disclosed.
Mercer announced it would be closing down the Beaverton location and seeking buyers in March.
Boverman told DWM magazine after the announcement that the company decided to close because, “It was inappropriate to maintain normal operations while we tried to find a buyer giving the magnitude of the losses we would have sustained if we had continued in a normal manner.”
The company was founded in 1926 as Mercer Steel and most recently manufactured commercial and residential vinyl and aluminum frame doors and windows.