Private equity firm Riverside Co. has sold vinyl window maker Sunrise Windows & Doors to MI Windows & Doors LLC for an undisclosed price.
Cleveland-based Riverside had owned Sunrise, based in Temperance, Mich., since December 2010. MI is a major supplier of vinyl and aluminum windows and sliding glass doors based in Gratz, Pa.
"Our time together with the Sunrise organization has been incredibly fruitful," Riverside Partner Tim Gosline said in a Dec. 22 news release. "During our partnership, we grew the company's dealer roster, introduced new products and enhancements and invested in a significant facility expansion."
Under Riverside's ownership, Sunrise completed a 71,000-square-foot expansion that allowed the firm to consolidate three facilities and enhance operations. "As a team, we believe Sunrise is well positioned for growth with its next partner," Riverside partner Ryan Richards said.
Sunrise CEO Carl Will added that Riverside "has been instrumental in helping us attain our growth objectives" and has done so "in a very practical manner — focusing on the key value drivers and overall investment strategy allowing me and my team to run the day-to-day business."
Sunrise opened in 1994 and now has dealer customers for its custom vinyl windows in 38 states. Riverside officials said that the firm's investment in Sunrise "is one more example of Riverside's dedication to its specialty manufacturing and distribution specialization."
Riverside has invested in more than 240 specialty manufacturing and value-added distribution companies across a wide variety of end markets since 1988. Its current portfolio includes Xcentric Mold & Engineering, a high-tech injection molder and mold maker in Clinton Township, Mich.