Jan 19 2010
Arch Aluminum & Glass Company (“Arch”), a leading fabricator and distributor of architectural glass and aluminum, today announced that the Bankruptcy Court of the Southern District of Florida has approved an agreement to sell Arch’s assets and business to an affiliate of Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market leading companies. Arch, which previously filed a voluntary petition for Chapter 11 reorganization in November 2009, intends to maintain all normal business operations while the transaction is completed in the next few weeks.
“We are delighted with our agreement to be acquired by an affiliate of Sun Capital,” said Leon Silverstein, Arch’s President and Chief Executive Officer. “We have known the firm for many years, and their financial and operating expertise spanning more than 100 portfolio companies over the past 15 years will bring added value to our organization as we begin a new chapter in our history. We look forward to working with their senior operating and financial team.”
Aaron P. Wolfe, Principal, Sun Capital Partners, added, “Arch has been known as an industry leader providing high quality service and a comprehensive product offering of fabricated glass for the architectural industry and aluminum for the architectural industry. The Silverstein family has done a terrific job growing the business over the years, and we believe that our experience in similar building and construction product sectors will further enhance the position of Arch.”