Window Nation Enters Into Partnership With Private-Equity FirmJanuary 24th, 2018 by Trey Barrineau
Window Nation has entered into a partnership with the Cortec Group, a New York-based private-equity firm. Terms of the deal were not disclosed.
Window Nation, headquartered near Baltimore, is one of the biggest dealers and installers of doors and windows in the Mid-Atlantic region. The company was recognized as one of the fastest-growing dealers in the country by DWM magazine in 2015, 2016 and 2017. Inc. magazine also named Window Nation to its list of the the 5,000 fastest-growing private companies in the U.S. in 2017 and 2014. According to DWM research, the company had projected revenue in 2016 of $90 million. Inc. magazine said the company grew 124 percent in 2016.
Window Nation was founded in 2006 by brothers Harley and Aaron Magden. They’ll continue to lead the company and will retain an ownership stake.
“We wanted to partner with a firm that had relevant knowledge about direct-to-consumer marketing, as well as expertise in the building products and window industry, specifically,” said Harley Magden. “We were also looking for a partner that would provide both operational and financial resources to support growth and address challenges that are inherent in any fast-growing business. Cortec brought all of these to the table.”
“As owners and operators of Window Nation, Cortec’s successful track record of partnering with entrepreneur-led, high-growth businesses was also important to me and Harley,” said Aaron Magden. “During the transaction process, the Cortec team delivered on their promised terms and time frame, allowing us to close the recapitalization quickly and get back to managing our business.”