Private Equity Firm Creates New Company to Acquire Hurd

December 29th, 2008 by Editor

Longroad Asset Management LLC, the private equity firm that had agreed to purchase Hurd Windows & Doors in November, has formed a new company, HWD Acquisition Inc., which will retain Hurd’s assets, including the Hurd brand, as well as the employees and management team of the company. HWD Acquisition will be based in Medford, Wis., where the former Hurd was located, and former Hurd president Dominic Truniger will serve as its president. (CLICK HERE for related story.)
“This ownership change establishes a solid foundation for the future success of the Hurd brand,” says Truniger. “Despite being in an industry that is currently facing far more capacity than demand, the Hurd brand has actually doubled in market share since 2005. Now as part of the Longroad portfolio and newly infused with significant capital, we see even greater opportunities for our future and are confident in our ability to continue growing at a remarkable pace.”

According to Longroad’s Steve Zambito, the incoming chairman of Hurd, “The Hurd brand is now backed by one of the strongest balance sheets in the industry.”

Zambito adds that Hurd will be focusing on new product development, and will even pursue further acquisitions. Regarding new products, some of these will be introduced at the upcoming International Builders’ Show.

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