Custom Glass Solutions Acquires Cameron Glass
WORTHINGTON, Ohio--(BUSINESS WIRE)--Oct 4, 2021--
Custom Glass Solutions, LLC (“CGS”), a leading glass manufacturer focused on transportation applications, announced today that it has acquired Cameron Glass, Inc. (“CamGlass”). The financial terms of the transaction were not disclosed.
Founded in 1978 by Jim Cameron, Owner and President, and his father, Roy Cameron, CamGlass is a glass fabricator based in Broken Arrow, OK. CamGlass offers a wide range of tempered glass products including flat, press, sag, and cylindrically bent systems for applications that include agricultural equipment, construction equipment, marine, and basketball backboards. The company employs 125 people and has operated in Oklahoma since its inception.
“As a family-owned company, CamGlass shares similar values and beliefs as we do at CGS,” said Neale Yeomans, Chief Executive Officer at CGS. “In many respects, CamGlass is a perfect fit for CGS as we continue to expand our offerings. We are thrilled to welcome the CamGlass team to the CGS family.”
Jim Cameron, added, “We are excited for what the future holds. I have been impressed with the depth of expertise of the CGS team and feel this is the next best step for our business to continue to grow. I am excited for our employees and our bright future with CGS.”
Jimmie Cameron, son of Jim Cameron, who has held various roles at CamGlass since 1994, will continue on with the business as Business Unit Director.
Fabricating windshields in Ohio since 1974, CGS has been on an aggressive growth trajectory since being acquired in October of 2018 by affiliates of Stellex Capital Management LP, a private equity firm that invests in middle-market companies in North America and Europe. Since then, CGS has expanded its footprint in Ohio, acquired NASG Holdings Inc., and is actively focused on organic growth and business optimization.
“The acquisition of CamGlass is another important step in achieving CGS’s strategic growth objectives,” said Mr. Yeomans. “With CamGlass, we enhance our tempering capabilities and our ability to offer value-add assemblies, allowing CGS to be a one-stop shop for customers’ glass needs. This acquisition will create significant value for our customers and employees.”
About Custom Glass Solutions
Custom Glass Solutions, LLC (CGS) is North America’s leading producer of large-format, laminated glass systems. In addition to laminated glass, CGS also manufactures flat, bent, and tempered glass systems, offering a broad range of capabilities and the most diverse selection of products for many different transportation segments. Through its Network business, CGS also works with insurance companies, fleet operators, and vehicle owners to coordinate glass replacement services. The company operates out of three facilities in Ohio and one in Pennsylvania and employs hundreds of the most talented men and women in America.
About Cameron Glass, Inc.
Cameron Glass, Inc. (CamGlass) is a leading fabricator of tempered glass systems for a variety of industries including agriculture, construction, laboratory equipment, marine, retail, and more. CamGlass also provides value-add offerings like assemblies, drilling, screen printing, and aftermarket services for its customers. CamGlass employs 125 people and operates out of its state-of-the-art facility in Broken Arrow, Oklahoma.
About Stellex Capital Management
With offices in New York, Detroit, and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, and government services. Additional information may be found at www.stellexcapital.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211004005273/en/
CONTACT: Matt Eder
KEYWORD: UNITED STATES NORTH AMERICA OKLAHOMA OHIO
INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING OTHER MANUFACTURING MANUFACTURING
SOURCE: Stellex Capital Management
Copyright Business Wire 2021.
PUB: 10/04/2021 08:15 AM/DISC: 10/04/2021 08:16 AM