Clearlake purchased Springs Window Fashions, based in Middleton, Wisconsin, from affiliates of AEA Investors, New York, and British Columbia Investment Management Corp., based in Victoria, British Columbia.
Financial terms of the transaction were not disclosed. The acquisition is subject to customary regulatory approvals and is expected to be finalized by October 31.
Springs, which employs more than 9,000 people worldwide, manufactures and sells custom window coverings to retail and commercial customers, as well as independent designers, franchisors and decorators.
The company’s portfolio includes awnings, shades, awnings, shutters and soft coverings, all sold through a range of national brands including Bali, Graber, Horizons, SWFcontract, Mecho, Mariak and SunSetter.
“We are delighted to partner with the entire Springs organization and bring all of Clearlake’s available resources to accelerate the company’s compelling growth plan,” said José Feliciano, Co-Founder and Managing Partner by Clearlake.
“Springs has built an excellent reputation for product innovation with recent significant investments in its great brands,” added Nate Mejías, vice president of Clearlake.
Clearlake will drive “accelerated growth” in Springs through organic and acquisition-driven initiatives, said Mejías.
For reprint and license requests for this article, CLICK HERE.