Point 41 buys 1959-founded garage door maker Safe-Way
What's the deal? Point 41 Capital PartnersDealroom has a profile for this one. Try Dealroom → has acquired Safe-Way Garage DoorsDealroom has a profile for this one. Try Dealroom → from CW Industrial PartnersDealroom has a profile for this one. Try Dealroom →, partnering with management to recapitalize the company. Terms of the private transaction were not disclosed.
Who's involved? Point 41 is a middle-market private equity firm. Safe-Way, based in Warsaw, Indiana and founded in 1959, manufactures and distributes customizable residential and commercial overhead garage doors across the US through a nationwide network of plants and distribution centers.
What's the endgame? Point 41 wants to help Safe-Way gain market share by deepening its presence in core markets, expanding into new geographies, and broadening its product line. The company is also seeking partnerships with other overhead door manufacturers and distributors.
Why Safe-Way? "Our team has significant experience investing in and growing leading building products companies, making Safe-Way a natural fit with Point 41's strategy," said Jordan Wadsworth, managing partner of Point 41.
Chief executive officer Ted Rock said the deal provides "the support and resources to build upon our strong foundation" and to "bring the Safe-Way value proposition to more customers across the country."
The signal: The recapitalization reflects steady private equity appetite for building products businesses with long track records and room to consolidate a fragmented market. By backing management and inviting further tie-ups, Point 41 is positioning Safe-Way as a platform for add-on acquisitions rather than a one-off bet.
Read more: finance.yahoo.com
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