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Grey Mountain Will Help Binswanger Grow By Sahely Mukerji, smukerji@glass.com Boulder, Colo.-based Grey Mountain Partners' acquisition
of Binswanger EnterprisesLLC of Memphis, Tenn., is a positive step
for Binswanger. That seems to be the consensus within the industry. "We are very excited about partnering with Grey," says Arturo Carrillo, president and CEO of Binswanger Glass. "This is the first time that we're not tied to a fabricator. Before, we were owned by ACI [Glass Products of Memphis], then Trulite [Glass and Aluminum Solutions of Deerfield Beach, Fla.], this is the first time that we're independent. We're happy to get back to our roots as a glass installer." Says Jeff Leone, CEO of Trulite: "We were always planning
to sell Binswanger, because it's our customer, and we didn't want
to compete with our customer. We will continue to make acquisitions
that fit Trulite. Binswanger did not fit; you don't compete with
your customers." Grey Mountain will do good for Binswanger,
he says. "They will revitalize the company and make it grow." Leon Silverstein, industry consultant and ex-CEO of Arch Aluminum
& Glass, agrees. "It's great for Binswanger," he says.
"Binswanger has been a sleepy division. Grey's mentality is
to be a first-class company. They are good, smart people, and they
have knowledge of the industry, because they were involved in Vitro's
bidding. Grey will want to run it, grow it and be successful at
it. Now Binswanger is free to make business decisions that are good
for its self and not the fabricator that it's attached to." Stay tuned to USGNN.com for updates. Subscribe to USGlass magazine. |
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