Gienow Completes Restructuring with New Investor

May 27, 2009
Companies

The Gienow Group, one of the Canada's largest window and door manufacturers, recently completed a restructuring plan that enables it "to significantly reduce its outstanding debt and create an appropriate capital structure to support the company's long-term strategic plan and business objectives," according to company officials.

Sankaty Advisors LLC, the credit affiliate of Bain Capital LLC, provided a substantial equity investment to consummate the restructuring. With its completion, Gienow is positioned with a strong balance sheet and the financial flexibility to pursue continued growth both organically and through acquisitions, executives state.

A Window & Door Top 100 manufacturer, Gienow Group companies operates under the names of Gienow Windows & Doors and Architectural Windows & Doors in Calgary, Alberta, Award Windows & Doors in Edmonton, Alberta., and Farley Windows in Alexandria, Ontario. Together, these companies supply windows and doors to residential and high rise markets for both new construction and renovation applications in both the Eastern and Western Canadian provinces.

The Gienow Group had operated as a publicly-traded income trust until 2007, when it went private with an investor group that included H.I.G. Capital, as well as Sankaty Advisors.  As part of the Gienow’s former capital structure, Sankaty, which now has a controlling interest, has developed a deep understanding of the business and believes the company is well positioned to continue its success, officials note.