AMERICAN ARCHITECTURAL PRODUCTS CORPORATION COMPLETES THE SALE OF BINNINGS BUILDING PRODUCTS TO PGT INDUSTRIES, INC.
April 02, 2003
On January 2, 2003, American Architectural Products Corporation ("AAPC") completed the sale of substantially all the assets of its wholly owned subsidiary Binnings Building Products ("Binnings") to PGT Industries, Inc. ("PGT"), a Linsalata Capital Partners portfolio company ("Linsalata"). PGT is a leading manufacturer of window and door products serving new construction and remodeling markets in the Eastern U.S. Linsalata is a Cleveland, Ohio based private equity fund, founded in 1984 by Frank Linsalata. Linsalata is a leading private equity firm focused on acquiring middle market companies and using its expertise and resources to accelerate the growth of these businesses. Located in Lexington, North Carolina, Binnings is a regional manufacturer and marketer of residential and commercial window and door products for new construction and remodeling/ replacement markets with annual revenues of $20 million.
Conway, Del Genio, Gries & Co., LLC ("CDG") is acting as financial advisor to AAPC. For further information, please contact Robert A. Del Genio of CDG, a firm specializing in corporate finance advisory services with a focus on mergers and acquisitions and restructurings. Mr. Del Genio’s telephone number is (212) 813-1300.
