Graycliff Announces Mezz Investment in Fairway Building
Graycliff Partners announced it has completed an investment in Fairway Building Products. Graycliff invested subordinated debt and equity financing in support of the purchase of a controlling stake in the company by Argosy Private Equity. Graycliff’s investment in Fairway marks the fifth investment in Graycliff Mezzanine II LP, a fund with over $250 million in commitments.
“We were impressed by Fairway’s leading market position and reputation for excellence, said Andrew Trigg, managing director, Graycliff Partners. “Argosy Private Equity has a long track record of success and we look forward to partnering with them and the company’s co-founders, Dale Adams and Dennis Hazenstab, to support Fairway’s future growth.”
Mount Joy, PA-based Fairway is a manufacturer of vinyl, aluminum and composite railing systems and distributor of ancillary building products. Fairway was founded in 1997 and has an additional manufacturing location in York, NE. The company offers durable vinyl railing systems and lightweight aluminum and composite rail products and accessories primarily for residential decks. Fairway sells its products through wholesale distributors and direct building material distributors to residential homebuilders and commercial contractors.