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MikronWood replacement 1700 series frames from
Mikron
HUMAN RESOURCES
Establish a Buddy System for New Hires
Special micro-site for the
window and door industry
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HIG to Close Shapes/Arch Acquisition
Miami-based private equity group HIG Capital LLC will close its $91.5 million acquisition of Accu-Weld LLC parent company Shapes/Arch Holdings LLC on July 31, according to a report in the Courier Post in Camden, N.J.
The Delair, N.J.-based Shapes/Arch filed for Chapter 11 bankruptcy protection in March, citing the decline in the construction market. At the time, the company planned to re-organize and emerge from bankruptcy with the financial support of Philadelphia-based Versa Capital Management. However, creditors objected and Versa dropped out.
As part of the sale, HIG will assume $60 million in debt from Shapes’ bankruptcy plan.
HIG Capital, with more than $7 billion of equity capital under management, is currently involved in the window and door industry through its acquisition of Canadian manufacturer Gienow Windows & Doors last year.
In addition to Accu-Weld and Ultra Hardware, Shapes/Arch also operates Shapes LLC, an aluminum extrusion business.
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