CenterOak Exits Cascade Windows Through Cornerstone Sale
CenterOak Partners LLC said Aug. 2 it agreed to sell Cascade Windows Inc. to Cornerstone Building Brands Inc. (CNR) for $245 million, about five years after the Dallas private equity firm acquired the window maker.
The Deal reported the potential sale of the company in March.
Related: Window Opens for Sale of CenterOak’s Cascade
The purchase price amounts to about 1.53 times Cascade Windows’s $160 million in sales for the 12 months ended in May.
North Carolina-based Cornerstone said the acquisition of the Spokane Valley, Wash., company will grow its business in the residential market as well as its manufacturing presence on the West Coast.
Cascade employs about 800 people at six manufacturing and three distribution centers.
CenterOak, which acquired Cascade Windows in February 2016, said the transaction marks the third exit from its debut fund in the past 12 months along with Service Champions Inc. and FullSpeed Automotive.
Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.
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