Seven Point Equity Partners acquires RiteScreen
The North American window, door and commercial ventilation market has gained a new fabricated screen heavyweight.
Building industry investment firm Seven Point Equity Partners, LLC acquired Elizabethville, Pennsylvania-based The RiteScreen Company, LLC from JT Walker Industries, Inc., to create what it says is the market's largest standalone supplier of screens.
“We look for strategically important companies that have a strong focus on quality, reliability and customer responsiveness as a foundation to build future growth," said Seven Point managing partner Tom Burchill. "RiteScreen certainly meets these criteria. In addition, we are impressed with the passion for manufacturing and high service standards we see throughout the organization. As the building materials market continues its recovery, manufacturers will increasingly look for opportunities to deploy scarce labor and floor space to build their primary products. RiteScreen is particularly well positioned to support this by supplying assembled screens as and when needed.”
RiteScreen provides screen products to window and door manufacturers on a "just-in-time" basis, a cost-effective alternative to in-house screen assembly. It also makes replacement screens for the DIY market and offers maintenance and repair solutions for multi-family and commercial applications.
In addition to its six plant locations throughout the country, RiteScreen will maintain its headquarters in Elizabethville, as well as its management structure.
Seven Point operating partner Randy Iles will serve as the company's new CEO and a member of its board of directors. Iles is also president of Pella Corporation's Entry Systems Division and CEO of Andersen Corporation's Silver Line business unit.
“We knew it was time to turn over the reins of RiteScreen to new ownership to direct the next phases of investment and growth, but there is a lot of emotion for everyone involved with RiteScreen since JT Walker founded the business so many years ago," added Jay Poppleton, president of JT Walker. "So we are delighted to have found the Seven Point team. Their resources, long term vision and respect for the RiteScreen people, coupled with the unique industry knowledge and expertise that Randy Iles brings, made them an ideal successor. We really feel JT Walker’s legacy, the RiteScreen team, and RIteScreen’s customers are in the very best of hands.”