Silverstein Announces Asset Purchase of
SMI Aluminum Systems in Florida
SMI Aluminum Systems LLC, led by Leon Silverstein, former
chief executive officer (CEO) of Arch Aluminum & Glass, has announced
the purchase of SMI Systems in Medley, Fla. The transaction was completed
on September 17, 2010, through an asset purchase agreement between the
two parties. The prior SMI management team and all of their employees
will remain as employees of the new company, led by Jim Pande, who has
been owner of SMI for the past eight years.
Joining Silverstein as partners in the acquisition are his brother, Richard
Silverstein, and Manny Valladares; both held key positions at Arch, as
chief operating officer and director of product development, respectively.
SMI Systems is a manufacturer of high-performance storefront entrances
and window walls created to meet high design pressures for blast and hurricane
protection. “The existing product line at SMI is a perfect start to creating
a broad product line to meet the needs of the glazing contractor,” says
Leon Silverstein told USGlass magazine in an exclusive interview that
the company will focus on selling products in Southeast Florida “and the
coastal areas where hurricane systems are in demand.” The company currently
has about 55 employees and occupies 63,000 square feet of manufacturing
“The new company will now benefit from the years of knowledge and expertise
that the new group brings to the table in the form of purchasing, product
enhancements, manufacturing and selling strategy,” adds Pande.
The new SMI already is active in developing new products and services
to fill the gaps in its product line.
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