Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) is buying C.H.I. Overhead Doors from San Francisco private equity firm FFL Partners.
Arthur, Illinois-based CHI makes overhead sectional garage door products for residential and commercial use. The business also manufactures rolling steel doors for commercial and industrial clients. Terms of the deal weren't disclosed.
UBS Investment Bank and KKR Capital Markets are providing financing for the deal. Kirkland & Ellis is KKR’s legal counsel. Barclays and Credit Suisse were CHI and FFL’s financial advisers, and Wilkie Farr & Gallagher LLP was legal counsel.
Other firms have also been taking advantage of a recovery in the U.S. real estate market to do more real estate-related and building products deals. Altus Capital Partners, earlier in June, bought window installation-equipment maker GED Integrated Solutions Inc. Also in June, GI Partners picked up real estate software company MRI Software LLC.