Ply Gem Industries, a US manufacturer of residential exterior building products, has announced that affiliates of the company’s financial sponsor, CI Capital Partners, will acquire a ma
Ply Gem Industries, a US manufacturer of residential exterior building products, has announced that affiliates of the company’s financial sponsor, CI Capital Partners, will acquire a majority of Ply Gem’s outstanding nine per cent senior subordinated notes.
Ply Gem has also announced that it intends to amend the indenture of its nine per cent senior subordinated notes to provide the company with greater financial and operating flexibility.
Gary E. Robinette, president and chief executive of Ply Gem, says: ‘This represents a significant investment by our sponsor and demonstrates their continued confidence in and support of our business.
‘Having our sponsor acquire a majority of our notes will give our company greater control over our debt and can provide the company with additional near-term liquidity during these challenging economic times.’
Ply Gem Industries, headquartered in Cary, North Carolina, manufactures and markets a range of products for use in the residential new construction, do-it-yourself and professional renovation markets.
Principal products include vinyl, aluminium, wood and clad windows and patio doors, vinyl siding, fencing, railing, manufactured stone, aluminium siding products and accessories marketed under the Ply Gem Windows, MW, Patriot, Alenco, Great Lakes, Mastic, Variform, Napco, Kroy, United Stone Veneer and CWD brand names.
