Parkersburg, W.V.-based Wincore Window Co. LLC was acquired by Cypress, Calif.-based investment firm Fernweh Group LLC and its affiliates to be part of a new platform focused on the buildings products sector.
Founded in 2007 by former executives of Simonton Windows, Wincore produces vinyl windows, impact-resistant windows, fiberglass entry doors and sliding patio doors, primarily for the residential market, at operating facilities in Parkersburg and Swainsboro, Ga.
Terms of the deal weren't disclosed but the new owners have said they expect a seamless transition for customers, vendors and employees with all workers and senior management remaining with the company.
The acquisition is happening at a time when the housing and construction market is poised for revival, according to Fernweh Group CEO Nick Santhanam. He points to an improving macroeconomic outlook, pent-up residential construction demand and recent legislation allocating funds to infrastructure projects.
"With [the] 12-month CPI [consumer price index] falling below 3 percent and the Federal Reserve implementing two rate cuts in 2024, we see significant pent-up demand for housing and home renovations in the U.S., making this an ideal moment for investment in the building products space," Santhanam said in a news release.
Wincore grew from a start-up that survived the economic downturn of 2008-09 to become a major player with several sales channels and a long-term repeat customer base.
Wincore President Brian Standley said the acquisition provides an opportunity to honor the efforts of those who founded Wincore 17 years ago.
"We are excited to partner with the team at Fernweh to make a great company even better in the coming years," Standley said in a news release.
Santhanam credited Wincore's management team with driving the company's success to date.
Wincore senior management will also be equity owners alongside Fernweh.
With Wincore entering its 18th year, the senior managers said Fernweh will drive growth and provide an excellent environment for the Wincore employees.
"This allows us to stand by our core values of customer service, quality products and people-first, which has been our mission since day one, and the way it should be," said Russ Tracewell, the new executive vice president of sales and marketing for Wincore.