Detroit-based private equity firm Superior Capital Partners has bought into a pair of businesses in the architectural glass and aluminium industry through two recapitalisations.
Superior has created a combined company by picking up Aldora Glass Holdings and Coastal Glass Distributors, which are the fourteenth and fifteenth acquisitions from the firm’s debut fund.
The deal was brought to Superior by Aldora’s Leon Silverstein, who has spent his entire career in the architectural aluminium and glass industry. He will lead the combined business.
Superior managing director Scott Hauncher said, “Leon Silverstein is one of the most experienced and talented executives in the industry.
“Over a decade ago I had the opportunity to work with Leon directly when he was running his family’s glass fabrication business.
“This business grew to over $350m in revenue under Leon’s leadership.
“The strategic fit of Aldora and Coastal was clear from the outset.
“Both companies were recovering steadily from the building products downturn but lacked the liquidity and scale required to accelerate their growth.
“The outstanding Coastal management team will remain in place and the combined business now has the product line, capital resources and leadership team to grow rapidly through continued organic and geographic expansion.”
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