MIWD Transitions to New Ownership
The management team of MI Windows & Doors, with the support of Pete DeSoto and ShoreView Industries, a private equity firm based in Minneapolis, has successfully completed a transaction to purchase the Pennsylvania-based window and door manufacturer from JT Walker Industries. With the transition, ShoreView will hold a significant minority interest in MIWD.
Pete DeSoto, previously MIWD CEO and an industry veteran of more than 50 years, will become chairman of the newly formed entity. Matt DeSoto has been elected president and CEO of the business. Mike DeSoto will take on the role of COO and Stan Sullivan will take on the role of chief sales and marketing officer.
“As MI Windows & Doors continues its long tradition of providing quality products to the housing market, I am pleased to hand over the reins to our seasoned management team whose drive and significant expertise in the fenestration industry will advance our continued growth as a leading manufacturing company," says Pete DeSoto. “I am proud that our team members at MIWD have made an indelible mark in providing best-in-class products to the building industry. Our commitment to making quality products and delivering them accurately and on-time has never been stronger. Moving forward, I am anxious to work with the management team to accelerate our efforts of being an industry leader.”
Brett Habstritt, partner at ShoreView Industries, will join the MIWD board, and is enthusiastic about the prospects for growth. "MIWD is an industry leader and we feel that the timing could not be better to assist in the next phase of growth for the business," he states. "We are truly excited to be partnering with the MI Windows and Doors management team and Pete DeSoto on this opportunity."
"We are quite honored with the opportunity that has been provided to us and feel very fortunate to have the best team members, customers, and suppliers in the industry," adds Matt DeSoto. "Furthermore, our entire team is thankful to have the vast experience of Pete DeSoto and the ShoreView team behind us."
A Window & Door
MIWD manufactures vinyl, aluminum and composite windows, serving the new construction and remodeling markets. Based in Gratz, Pa., the company also has manufacturing operations in Carrollton, Texas, and Prescott Valley, Ariz.