GDIC Group LLC Acquires the Assets of Patio Enclosures Inc.January 18th, 2011 by Editor
GDIC Group LLC, a Cleveland-based private equity firm, announced Friday that it has acquired all of the operating assets of Patio Enclosures Inc. through its subsidiary, GDIC Management Services LLC. Patio Enclosures Inc. is a manufacturer, retailer and distributor of sunrooms, solariums, patio and porch enclosures.
GDIC Management Services LLC will continue to use the Patio Enclosures brand name, as the brand was one of the assets acquired under a previous secured lender arrangement.
“GDIC is an acronym for Great Day In Cleveland and it is certainly appropriate today, as we were able to hire most all of the former Patio Enclosures Inc. employees. With the strength of the Patio Enclosures brand and the investment GDIC is committed to making in people, infrastructure and advertising, we are excited about the significant growth opportunities ahead,” says Steve White, president of GDIC Group.
Retail and manufacturing investments are a key focus and strength for GDIC Group LLC. The firm focuses on acquisitions that include distressed privately-held companies with an established business in the marketplace.