Middle Market private equity firm CenterOak Partners LLC has bought windows manufacturer Cascade Windows Inc. from Altamont Capital Partners. Financial terms were not disclosed.
Cascade, based in Spokane, Washington, makes windows and doors for the residential and commercial markets. The target has a distribution network in about 10 states, mostly on the West coast. Altamont acquired Cascade in 2012 and in 2014, the company purchased Paramount Windows.
“Building products is a subsector we know well and have invested in previously,” says CenterOak managing partner Randall Fojtasek.
Building product deals, including windows and doors manufacturers, have been robust as the housing market holds steady. In 2015, Masonite International Corp. (NYSE: DOOR) completed its purchase of USA Wood Door and PGT Inc. (Nasdaq: PGTI) announced plans to buy WinDoor Inc. For more on construction M&A, see Home Builing Surge Will Lead to More Building Products M&A.
KeyBanc Capital Markets (NYSE: KEY), Ropes & Gray and Foster Pepper LLC advised the sellers.