Genstar Completes International Acquisition
Genstar Capital, LLC, a San Francisco-based private equity firm, has acquired the once-public International Aluminum Corp. The previously announced transaction was valued at $228 million.
Founded in 1957, International Aluminum is based in Monterey Park, CA and has three primary business lines, including a residential window manufacturing operation, International Window Corp. The company also operates a commercial window product division, as well as extrusion operations.
“We invest in areas that we know and where we feel we can add value post acquisition,” says Darren J. Gold, a managing director with Genstar. “IAL is in the sweet spot of our investment focus because it operates in the building products industry, which is a sector we understand and where we have previously created value. That is a reason we are able to complete this acquisition in a very timely manner and we now look forward to implementing initiatives to further grow the business.”
Genstar’s previous investments in the building products industry include Gentek Building Products, the manufacturer of siding and windows, which it eventually sold to Associated Materials.