Highlander Partners, L.P., a Dallas-based private investment firm specializing in middle-market companies, announced Sept. 3 its acquisition of Versatex Building Products, the Pittsburgh-based maker of PVC building products.
Versatex will keep its existing operating structure, and both president and co-founder John Pace and vice president of sales Rick Kapres will remain with the company.
“Highlander is a perfect fit, given their extensive background in building materials," Pace said in a statement. "And we are pleased to have a partner that invests their own capital and takes a long-term strategic approach to growing companies.” Until July 31, Highlander had owned Vidrio Holdings Inc. and its operating subsidiary, Custom Windows Systems.
Craig-Hallum Capital Group served as
the exclusive financial advisor to Versatex in connection with this
transaction. Texas Capital Bank and Comerica Bank provided senior
financing facilities and AEA Mezzanine Fund III LP provided mezzanine debt in
support of the transaction.