MIDDLETON, Wis., March 6, 2015 /PRNewswire/ -- Springs Window
Fashions ("Springs"), the second largest provider of custom window
covering products in the world, announced today that it has signed
a definitive agreement to acquire MechoSystems, Inc.
("MechoSystems").
MechoSystems is the most globally recognized brand in commercial
solar shades. Like Springs, the company has evolved over the
last half-century to meet the changing needs of its customers and
the industry. Its superior technical and engineering
capabilities, high-quality innovative design engineers, products,
industry knowledge, skill and integrity that characterize its
management team align well with Springs.
"MechoSystems' management team and their go-to-market strategies
will remain intact as we work together to build both businesses,"
said Scott Fawcett, President and
CEO of Springs. "Joel Berman,
Chairman, Jan Berman, President, and
Glen Berman, Executive Vice
President, will continue to manage the MechoSystems business.
We fully intend to leverage the experience and expertise of both
companies, and share best practices on products, technologies,
business processes, operations and most importantly, our
commitments to our customers."
The acquisition combines the complementary strengths of two
leading companies in the commercial and consumer window coverings
industry. This new partnership will enable Springs and MechoSystems
to provide more complete and better solutions to their customers so
they can meet the market's ever changing and challenging
requirements. The combined resources, experience, and breadth
of product, complemented by MechoSystems deep intellectual property
portfolio, as well as the sales, specification and new product
development teams, will enable the combined business to provide
more value to their customers and clients.
"We are very excited to team up with a complementary industry
leader and leverage their strengths and resources to help drive our
company, brand and products to the next level," said Joel Berman, Chairman of MechoSystems.
"This is a perfect opportunity to marry MechoSystems' technology
with Springs' strengths and resources to offer the market the best
technology and the best experience."
The industry is more dynamic than ever, with advancing
technologies driving automated energy conservation, sustainable
building design, material health and transparency, daylighting
technology, and building management system communication. This
acquisition reinforces the commitment of Springs and MechoSystems
to the accelerating pace of innovation driving these trends.
Rajeev Amara, a Springs Board
member and Managing Director of Springs' majority shareholder
Golden Gate Capital, added, "We are excited about the business
combination and continue to be fully committed to further investing
in the Company to support and accelerate its continued growth, both
organically and through add-on acquisitions. Together we can
accelerate innovation and advance key trends on a global
scale."
The parties expect the transaction to close within the next 30
days.
Springs Window Fashions, the Best Experience Company, supplies
leading retailers and distributors with a complete line of blinds,
shades, specialty treatments and window hardware. Bali ® and Graber® are
brands of Springs Window Fashions. Based in Middleton, Wis., the company has facilities in
nine locations in the United
States and Mexico and
employs approximately 5,000 associates. For more information, visit
www.springswindowfashions.com.
Founded in 1969, MechoSystems is the world's leading designer
and manufacturer of innovative window-covering systems for the
architectural and design communities. MechoSystems utilizes
superior technical and engineering abilities to produce
high-quality innovative products, and brings a management team with
a high level of industry knowledge, skill and integrity. For
more information, visit www.mechosystems.com.
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SOURCE Springs Window Fashions; MechoSystems, Inc.