Equity Firm Completes Acquisition of Royal’s Door and Window Division

April 4th, 2016 by Casey Flores

OpenGate Capital, a private equity firm, has completed the acquisition of the door and window division of Royal Building Products from Axiall Corp. The division has been renamed Energi Fenestration Solutions as part of OpenGate’s investment strategy to transition the business into a stand-alone entity. Financial terms of the transaction were not disclosed.

Energi was founded more than 40 years ago and is a leading manufacturer of rigid and cellular vinyl window and patio door profiles, as well as interior vinyl shutters and other extruded vinyl products for a variety of applications. The company is headquartered in Ontario, Canada, has seven manufacturing sites in the United States and Canada, and employs more than 900 people.

“We are incredibly proud to have acquired Energi as it has all of the qualities we look for in a lower middle-market, carve-out transaction: a great management team, innovative R&D and a high quality customer base,” says Andrew Nikou, OpenGate’s founder and CEO. “This is yet another example of how OpenGate Capital is able to deploy our in-house team to source, acquire, transition and ultimately drive new value into businesses with untapped potential throughout North America and Europe.”

Jesse Hawthorne will continue to lead Energi as the company’s CEO. Mr. Hawthorne brings more than 13 years of industry experience and insight into the North American market, having worked at Jeld-Wen of Canada and Royal Building Products.

The acquisition of Energi is the third transaction completed by OpenGate in the past three months, and the second cross-border transaction this year following OpenGate’s acquisitions of Power Partners Inc., a U.S.-based power transformer business in January and the acquisition of Bois & Matériaux, a France-based building materials distribution business from Wolseley plc in March.

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