GE Capital, Others Finance Nautic Partners Acquisition
Nautic Partners announced that it has partnered with management to acquire Custom Window Systems. Ocala, FL-based Custom is a designer and manufacturer of impact resistant and non-impact windows, doors, and porch enclosures, serving customers in Florida and across the Southeastern U.S.
GE Capital, Jefferies, Newstar Financial and Triangle Capital Corporation provided financing for the transaction. Terms of the transaction were not disclosed.
“We believe that Custom has developed into one of the largest and most well-respected window and door manufacturers in Florida by developing high quality products and providing a consistently high level of service to its customers. Custom is ideally positioned for further growth given the attractiveness of the Florida market and the company’s leading reputation across multiple product categories,” said Doug Hill, Managing director of Nautic. “We are very pleased to be partnering with the Custom Window management team.”
“We welcome our new relationship with Nautic, a firm that shares our vision of growth and will be a valuable partner as well,” said Greg Schorr, president and CEO of Custom Window. “We see an extraordinary opportunity in Florida and across the Southeastern U.S., and the strategic and financial resources Nautic brings will enable us to capitalize on Custom’s significant growth opportunities.”
“We are highly impressed with the Custom management team, which has driven notable growth at the organization,” continued Chris Pierce, principal of Nautic. “The market for windows and doors is growing, particularly in the impact-resistant and vinyl segments where Custom has a long-running track record of producing high-quality, trusted products. We also believe the new product line that is being introduced this month will continue to drive growth for the company, particularly on the non-impact side of its business.”