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Golden Gate acquires Springs Window Fashions from Heartland Industrial Partners

23 Apr 2013

san francisco tram_sqPrivate equity firm Golden Gate Capital has bought Wisconsin-based customer window coverings maker Springs Window Fashions, which owns the Bali and Graber brands.

The business was acquired from private equity firm Heartland Industrial Partners and the Close family with the management retaining a minority stake.

The sides did not disclose the financial terms of the deal, which is expected to close in June.

Golden gate managing director Rajeev Amara said, “Springs represents a terrific opportunity to invest in a market leader with proven competitive advantages and significant growth potential.

“Our decision to partner with Springs was driven by the strength of the management team and their long history of delivering world-class products and services.

“We are fully committed to further investing in the company to support and accelerate its continued growth, both organically and through add-on acquisitions.”

Golden Gate currently has $12bn under management.

Some of the San Francisco-based firm’s other recent deals included the sale of Romano’s Macaroni Grill for $55m and the buyouts of ArrMaz Custom Chemicals, Ex Libris Global and Collective Brands.

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