Volume 35, Number 7, July 2000
Morganthaler Firm Makes
Major Investment in GED
Morganthaler, a private equity investment firm in Cleveland, announced June 16 that it had taken a major investment in Glass Equipment Development Inc. (GED) of Twinsburg, Ohio. Transaction terms were not, however, disclosed.
According to Pete Chojnacki, GEDs director of marketing, the company has a great deal of growth planned for the future, which will benefit from Morganthalers investment. Morgan-thalers role in this investment is very hands off, said Chojnacki. We needed someone with the tools to help us get to the next level, and we are excited about partnering with a company with the experience and funding to help us grow.
He also explained that GEDs plans for the future include acquisitions, strategic planning and new products.
As a major new investor, Morganthaler gives GED the resources to make a strong company still stronger, said Richard Dietrich, GED president. Our new capital will allow us to expand our current product and service lines and, where appropriate, make acquisitions that complement the business.
According to AOL News Wire, GED co-founders, Dietrich and Edmund Leopold, vice president will remain shareholders and retain their positions.
GED provides a perfect fit for Morganthalers buyout strategy of investing in leading middle market companies whose managements are looking for an experienced capital partner to help them take their businesses to the next level, said Peter G. Taft, Morganthaler general partner. GED has won its current stature in insulating glass manufacturing by developing and implementing industry-leading technology and in building strong customer relationships.
Tamglass Signs Contract to Supply Swedish Company with Bending and Tempering Line
A high capacity bending and tempering line, QSB, manufactured by Tamglass will now be shipped to Swedish safety glass producer, Spegelsliperiet Lindberg & Co. AB. Tamglass American unit, Tamglass Tempering Systems Inc., will manufacture the line.
PPG Sees Stars with
Re-Introduction of Starphire Glass
Production of Ultra-Clear Starphire glass, which was introduced by PPG in 1990, has been transferred from the companys Perry, Ga., facility to Carlisle, Pa.
According to the company, the Carlisle location will stock a minimum of six tons of Starphire glass to meet program requirements.
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