An affiliate of private Sun Capital Partners (Sun Capital) has completed the sale of Arrow Tru-Line Holding (Arrow), an independent US provider of sectional overhead garage door components. Terms of the private transaction have not been disclosed.
Arrow, acquired by an affiliate of Sun Capital in January 2017, manufactures structurally critical garage door hardware in North America, offering high-quality products including hinges, brackets, angles, and pre-assembled track sets, as well as value-added services. The Company operates four distribution centres across the United States and Canada.
“Our investment in Arrow Tru-Line is a great example of the positive impact that we can have through strategic application of our Sun Transformation System,” says Marc Leder, Co-CEO of Sun Capital. “Operational enhancements put in place during our affiliate’s ownership helped Arrow capitalise on market tailwinds, nearly doubling EBITDA and extending its market leadership. We are extremely proud of what we achieved together.”
“Sun Capital proved to be a tremendous partner, working closely with us to identify areas of opportunity and execute on our strategic plan,” says Thomas Brockley, Chief Executive Officer of Arrow. “Arrow has now recorded over 10 years of consecutive volume growth and is better positioned than ever to evolve and meet our customers’ needs.”
“We were able to apply our substantial experience in the building products sector to our work with Arrow and implement operational changes that delivered a rapid ROI,” adds Jeremy Stone, Managing Director at Sun Capital. “In addition to reviewing processes, we worked with the Arrow team to invest in new, innovative equipment that ensured product availability and a high level of service to customers, and also had positive impact on the bottom line.”
Sun Capital’s most recent building products transaction was the sale of Stone Point Materials, one of the 25 largest aggregates companies in the United States, to strategic buyer Arcosa, Inc. in March 2021.
