AVON, CONNECTICUT, January 7, 2016 – Ironwood Capital is pleased to announce an investment in Paradigm Window Solutions in the form of subordinated debt and minority common equity.
This investment was made in conjunction with investments in Paradigm by lead equity sponsor CapitalWorks of Cleveland, Ohio and senior lender Texas Capital Bank, based in Dallas, Texas.
Founded in 2001 and headquartered in Portland, Maine, Paradigm is a leading manufacturer of premium custom vinyl windows and patio doors in the Northeast. It manufactures a broad line of high-quality, energy efficient products, all meeting or exceeding Energy Star ratings, in its state-of-the-art 109,000 square-foot facility.
“Our deep experience in the building products space, coupled with Paradigm’s product differentiation, makes Paradigm an attractive investment for us,” said Carolyn Galiette, president and chief investment officer at Ironwood Capital. “It is one of only a few providers of highly customized premium vinyl windows to the Northeast market. ”
“Paradigm’s reputation for quality with contractors and architects has provided growth in the customized product area in the Northeast and other harsh weather climates like the Midwest,” noted Alex Levental, managing director at Ironwood Capital. “We really like the strength and longevity of the company’s distribution system. Approximately 80% of the company’s sales are through distributors, with 20% of sales directly to larger multi-family/institutional projects. All top distributor relationships have been in place for over 10 years.”
The Paradigm management team has over 60 years of industry experience. John Brunett has served as CEO since 2010. Brunett was previously president and chief operating officer of Simonton Windows, having grown that business from $50 million to $600 million. President Andy Sevier provides day-to-day management and execution leadership. Servier has been with Paradigm for over 30 years, holding management roles in both operations and sales. “The investments from Ironwood Capital, CapitalWorks and Texas Capital Bank support our expansion plans,” stated Brunett. “We are grateful for the confidence shown in our team and our product.”
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. Over the past 15 years, it has invested $600 million in over 100 companies. It takes a straightforward approach in providing profitable, well-managed companies with growth and transition capital coupled with strategic, operational and financial guidance. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $5 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. With nearly 30 years of middle market experience, Ironwood Capital seeks to simplify a process that is often unnecessarily wrought with complexity and contention. For more information, please visit www.ironwoodcap.com.
About Paradigm Window Solutions
Paradigm Window Solutions, headquartered in Portland, Maine, is a leading manufacturer of custom vinyl windows and patio doors in the Northeast United States. Paradigm’s proprietary line of premium windows is designed to replicate the strength of aluminum, beauty of wood and performance of vinyl. Paradigm can customize different sizes and paint colors and provide thicker vinyl window casings to give added structural strength and more energy efficiency. Paradigm works closely with architects and contractors to provide project support, including technical information for use in specification of its windows in commercial applications, customized shop drawings and submittal packages for general contractors and project advisement from the initial concept to the completion of the project. Its portfolio includes larger projects from Maine to Florida. For more information visit: www.paradigmwindows.com.