Accu-Weld Purchased by Haddon Windows
Haddon Windows has purchased the assets of Accu-Weld, the vinyl window and door manufacturer based in Bensalem, Pa. Before the time of the acquisition, Accu-Weld was a subsidiary of Shapes/Arch Holdings LLC, a portfolio company of H.I.G. Capital.
Accu-Weld is a fully integrated manufacturer and marketer of residential vinyl windows and decorative entry doors to the repair and remodeling market. The company’s products are sold through more than 400 window and door dealers, contractors and distribution centers in the Northeast, Mid-Atlantic, Southeast and Midwest. The company employs approximately 140 people.
“My father, brothers and I have deep roots in the window industry and in the Philadelphia community,” says John Haddon Jr., newly named Accu-Weld president. “When this opportunity came to our attention, we saw a company producing a top-quality product, in trouble simply because the economy isn’t where it should be. We’re confident that we can position it for growth so that it will thrive once the economy gets back on track.”
Haddon Windows is a family-owned business also based in Bensalem. Jordan, Knauff & Co. served as exclusive advisor to Accu-Weld and H.I.G in this transaction. “H.I.G. is pleased that the transaction was completed in this challenging environment and allows Shapes/Arch Holdings to focus on its core businesses of Aluminum Shapes, a leading aluminum extruder and Delair, a premium aluminum fencing manufacturer and distributor," says Craig Kahler of H.I.G. "Furthermore, the employees of Accu-Weld will be supported by a dedicated team of industry veterans.”
Haddon expects the stimulus legislation provision for energy-efficiency upgrades–a tax credit of up to $1,500 for homeowners who install energy-efficient windows, doors, furnaces or insulation–to give Accu-Weld a boost through 2010. “Accu-Weld windows are designed for peak energy efficiency,” he notes. “They are ideal for homeowners looking to lower their energy costs through great-looking, quality windows.”