Mergers Acquisitions  
Binswanger Recapitalizes Through  
New Minority Equity Owner  
ukon Partners,a provider of mez- It is generally subordinated to debt pro- tectural glazing and auto glass business  
zanine capital for middle market vided by senior lenders such as banks across our semi-national footprint,”says  
private equity transactions, has and venture capital companies.”  
partnered with Grey Mountain Partners Yukon typically invests $10 million to  
Tim Curran, Binswanger CEO.  
“Following strong organic profitable  
to recapitalize Binswanger Enterprises. $40 million per transaction in subordi- growth and two successful growth ac-  
The company has acquired a minority nated debt and minority equity,accord- quisitions in 2015, this recapitalization  
equity interest in the Memphis, Tenn.- ing to a 2015 report from the company. with Yukon Partners is an important  
based full service glass provider.  
Binswanger Glass has 66 retail loca- next step for Binswanger,” adds Will  
“Mezzanine financing is a hybrid of tions throughout 15 states. Its flat glass Pucillo, vice president of Grey Moun-  
debt and equity financing that is typi- services include commercial storefront, tain Partners, which acquired Bin-  
cally used to finance the expansion of decorative glass, security glazing and swanger in January 2012.  
existing companies,” according to In- handrails, in addition to shower enclo-  
“We are thrilled to be partnering with  
vestopedia.“Mezzanine financing is ba- sures and mirror.It also serves the auto- management and the principals of Grey  
sically debt capital that gives the lender motive and residential window market. Mountain Partners on this exciting next  
the rights to convert to an ownership or  
“Binswanger is very excited to part- phase of growth at Binswanger,” says  
equity interest in the company if the ner withYukon Partners as the company Aaron Arnett, director of Yukon.  
loan is not paid back in time and in full. continues to profitability grow its archi-  
to Buy Valspar  
Sherwin-Williams will acquireValspar  
for approximately $11.3 billion. The de-  
finitive agreement was unanimously ap-  
proved by the boards of both companies.  
AmesburyTruth™ Parent to  
“Customers of both companies will  
Acquire the Giesse Group  
benefit from our increased product  
range, enhanced technology and inno-  
vation capabilities, and the transac-  
tion’s clearly defined cost synergies,”  
says John G. Morikis, president and  
CEO of Sherwin-Williams. “We have  
tremendous respect for the expertise  
and dedication of the Valspar team and  
we are excited about the opportunities  
that this combination will provide to  
both companies’ employees.”  
The transaction is expected to close  
by the end of the first quarter calendar  
year 2017.It is subject to the approval of  
Valspar shareholders and customary  
closing conditions, including the expi-  
ration or termination of the applicable  
waiting period under the U.S. Hart-  
Scott-Rodino Antitrust Improvements  
Act and regulatory approvals in various  
other jurisdictions. s  
yman Plc, the parent company of Edina, Minn.-based AmesburyTruth,  
has entered into an agreement to acquire the Giesse Group, which is  
composed of GSG International S.p.A and Giesse North America (GSNA).  
GSNA, a supplier of hardware systems for the aluminum Euro Groove window  
market, will be unified with AmesburyTruth, according to the company.  
The acquisition will enable AmesburyTruth to broaden its commercial prod-  
uct portfolio and further penetrate the commercial market segment, according  
to a company release.  
GSNA includes a distribution and technical support center in Blountville,  
Tenn., where products are shipped daily to commercial door and window man-  
ufacturers across the U.S. and Canada. GSNA sources its products from GSG In-  
ternational S.p.A. which will be united with Schlegel, a subsidiary of Tyman Plc.  
We look forward to the opportunity to expand our commercial presence in  
North America,” says AmesburyTruth president Jeff Graby. “Giesse is a good fit  
for our business as their objectives align well with the AmesburyTruth mission.  
Innovation is at the heart of what we do.”  
The team is eager to broaden our product portfolio by offering Euro Groove  
hardware to existing commercial customers,” adds Mike McCann, senior vice  
president of sales and marketing for AmesburyTruth. “This is also a great op-  
portunity to provide new solutions for former Giesse customers.”  
USGlass, Metal & Glazing | May 2016