Pennco Windows of Ashland, Ky., is for sale or lease as a fully-equipped, 200,000-square-foot facility ready to be returned to operation as a vinyl window and patio door fabrication plant.
“We're marketing it a as turnkey facility right now to potential going-concern buyers,” said Alex Mazer, who is handling the sale for PPL Group and Myron Bowling Auctioneers, in a telephone interview April 29.
“Hopefully an industry buyer will want to restart operations there. They were operating up until a few months ago. We imagine in the next 45-60 days there will be some resolution as to how it will be sold.”
In addition to the facility, the business includes robotic equipment, two lines capable of producing 1,000 vinyl insulated windows daily, and a glass cutter, assembly machine, heater tunnel, glazing equipment, frame welders, automated screen assembly, and more. However, Pennco did not do its own extrusion there.
Pennco Windows grew out of a family business called Ashland Lumber Co., which was founded in the 1950s by father and son W.L. Pennington and R.E. Pennington. The company later formed a business to manufacture aluminum doors and windows that incorporated in 1961. The same year, the family left the lumber business to focus entirely on window and door manufacturing. Over the years, the owners kept up with different innovations, such as the addition of thermal windows, vinyl windows and state-of-the-art robotics technology to make its doors and windows.
PPL Group is an Illinois private equity firm that uses its capital to help businesses in transition. Myron Bowling is an industrial auction firm.
