OpenGate Capital completes acquisition of window and door division of Royal Building Products
Private equity firm OpenGate Capital has completed its acquisition of the window and door division of Woodbridge, Ont.-based Royal Building Products, a manufacturer of vinyl window profiles and patio doors, from Axiall Corporation.
The deal was announced in February; the financial terms have not been disclosed.
The division has been renamed ENERGI Fenestration Solutions, and will be headquartered in Woodbridge. The company has seven manufacturing sites in Canada and the U.S., and employs more than 900 people.
ENERGI will be headed by CEO Jesse Hawthorne, who has more than 13 years of industry experience, having worked at Jeld-Wen of Canada and Royal Building Products.
“As we refine our portfolio, we are pleased to have reached an agreement to sell our window and door profiles business to OpenGate Capital,” Axiall president and CEO Tim Mann said in a February statement. “This is our fourth divestiture of non-core assets since April 2015, which allows us to better focus on our core chlorovinyls and derivatives. In particular, selling this business leaves Royal Building Products with the solid core product lines that generate better EBITDA margins, namely our siding, trim, molding, fittings and pipe businesses.”