Seven Point Equity Partners Acquires RiteScreen
June 17, 2014
Seven Point Equity Partners, LLC, a leading investment firm in the building materials sector, has acquired The RiteScreen Co. from J.T. Walker Industries, creating the largest standalone supplier of fabricated screens for North American window, door, and commercial ventilation markets, according to a release. RiteScreen will continue to be headquartered in Elizabethville, Pa., and the entire management team and organization will remain intact. Seven Point Operating Partner Randy Iles, who is also former president of Pella Corp.’s Entry Systems Division and former CEO of Andersen Corp.’s Silver Line business unit, has joined RiteScreen as CEO and will serve on the board of directors.
“We knew it was time to turn over the reins of RiteScreen to new ownership to direct the next phases of investment and growth, but there is a lot of emotion for everyone involved with RiteScreen since JT Walker founded the business so many years ago," says Jay Poppleton, president of JT Walker. "So we are delighted to have found the Seven Point team. Their resources, long-term vision and respect for the RiteScreen people, coupled with the unique industry knowledge and expertise that Randy Iles brings, made them an ideal successor. We really feel JT Walker’s legacy, the RiteScreen team, and RIteScreen’s customers are in the very best of hands.”