With an eye toward being the country's largest distributor of replacement windows, Thermoview Industries Inc. of Louisville, Ky., has agreed to acquire Precision Window Manufacturing Inc. of St. Louis.
The acquisition, involving an undisclosed amount of cash and common stock, is scheduled to close in January. It will be the 11th acquisition or merger for Thermoview since the company went public in April.
Thermoview started 1998 with one retail outlet, 100 employees and $6 million in annual sales. It since has acquired or merged with Thermo-Tilt Window Co. Inc. of Owensboro, Ky.; American Home Developers Co. Inc. of Woodland Hills, Calif.; Primax Window Co., Louisville; Rolox Industries Inc. of Kansas City, Mo.; Allhom Eagle Windows & Doors Inc. of Louisville; American Home Remodeling Inc., Van Nuys, Calif.; Five Star Builders Inc., San Diego; NuView Industries Inc., St. Louis; and Thermal Line Windows LLP and Leingang Century Siding and Windows Inc., two companies under common ownership in Mandan, North Dakota.
Now with 900 employees, 10 retail stores and, with Precision, three manufacturing facilities, the company expects sales to reach $100 million by the end of the year, said Chief Operating Officer Gene Bowlds.
Bowlds said Thermoview's plan is to create a network of one-stop shopping locations for replacement windows and a variety of home-improvement products, including siding and sun rooms.
In 1999, Bowlds said, Thermoview will continue its aggressive acquisition campaign, focusing its attention on the Southwest region of the United States. ``We are looking at locations in the Southeast, also.''
Thermoview, for now, has no plans to integrate vinyl processing into its fold in the near future, he said.
``That's not to say that someday we won't align ourselves with an extruder — or buy one,'' Bowlds said.