A Los Angeles-based private equity firm has acquired Binswanger Glass. According to a news release, Transom Capital Group on Wednesday completed the acquisition of Binswanger, a provider of custom glass design, engineering, fabrication and installation services. Binswanger is headquartered in Memphis and operates 42 locations across 11 states, providing commercial and residential glass design, engineering, fabrication and installation services.
Terms of the transaction were not disclosed. Transom officials say the move brings “new investment and deep operational expertise to accelerate Binswanger’s ongoing transformation and drive continued excellence.”
“Binswanger exemplifies the type of resilient, service-driven business that aligns with Transom’s investment strategy,” says Conor Davenport, managing director at Transom. “The Binswanger team has built an impressive platform known for its quality of work and customer service. We see a significant opportunity to build on Binswanger’s legacy and leverage our hands-on operational approach to unlock the company’s next phase of growth and innovation.”
Officials say that the next phase includes a focus on agility, positing Binswanger as a “differentiated partner to commercial and residential customers alike.” Blake Hancock, CEO of Binswanger, notes that the company has aimed to create a stronger, more agile organization through strengthened systems, leadership and customer engagement.
“Transom’s operational approach will help us take the business to the next level,” Hancock adds. “With Transom’s expertise and investment, we are well-positioned to support our team, elevate the customer experience and deliver innovative solutions throughout our national network.”
Transom’s website notes that the company relies on its expertise to drive performance through operational efficiency, growth and cultural transformation, rather than relying solely on capital. The company uses a “well-established buyout investment model that targets middle-market opportunities” and leans on six levers of value creation to improve business, including product development, supply chain and cultural restructuring, digital and salesforce transformation and cost reduction.
Kirkland & Ellis LLP served as legal advisor to Transom in connection with the transaction. Genesis Capital LLC served as financial advisor to Binswanger, and Willkie Farr & Gallagher LLP served as legal advisor to Binswanger.