Private Equity Firm Finalizes Hurd Acquisition
Following up on a previous definitive purchase agreement, HWD Acquisition Inc., a newly formed company owned by Longroad Asset Management LLC, has acquired the assets of Hurd Windows & Doors Inc. HWD Acquisition will retains the assets, including the Hurd brand, as well as the employees and management team of the Medford, Wis., based manufacturer.
“This ownership change establishes a solid foundation for the future success of the Hurd brand,” said Dominc Truniger, HWD Acquisition president. “Despite being in an industry that is currently facing far more capacity than demand, the Hurd brand has actually doubled in market share since 2005. Now as part of the Longroad portfolio and newly infused with significant capital, we see even greater opportunities for our future and are confident in our ability to continue growing at a remarkable pace.”
“The Hurd brand is now backed by one of the strongest balance sheets in the industry,” adds Longroad's Steve Zambito, the incoming chairman of Hurd. "This speaks volumes about the company’s position to pioneer new products, better support its loyal domestic and international distributor base, and even pursue future acquisitions."
Under the new ownership of the Connecticut-based, private equity firm, Hurd is participating in January's International Builders’ Show in Las Vegas. The company will be debuting a number of new products at the event, including its new technically- advanced, mid-priced H3 casement.