Sun Capital Confirms Acquisition
of United Glass Corp.
April 25, 2011
Sun Capital Partners Inc. in Boca Raton, Fla., a private investment firm specializing in leveraged buyouts and investments in market-leading companies, has confirmed USGNN.com's story earlier this month that an affiliate has acquired United Glass Corp. (UGC). Terms of the transaction were not disclosed.
"UGC operates state-of-the-art facilities and focuses on ensuring that its customers receive products of the highest quality in a timely and efficient manner," said Aaron Wolfe, principal at Sun Capital Partners, in a statement released by the company. "Lawrence O'Connell and the management team have done a tremendous job developing a market leader in the industry."
"We look forward to working with Sun Capital to strengthen our operations, which will benefit our valued customers and suppliers," said Lawrence O'Connell, UGC chair and chief executive officer, in the statement. According to a statement issued by Sun Capital, O'Connell will continue to work with UGC in an advisory role.
Sun Capital has prior experience in the glass and aluminum markets; the company purchased assets of Arch Aluminum & Glass LLC in January 2010 for $53.8 million. Sun Capital notes in its statement on the purchase of UGC that it "is interested in acquiring or partnering with other market-leading companies in the architectural glass sector and is actively looking for appropriate situations."
Stay tuned to USGNN.com for further details as they emerge.