Shapes/Arch Holdings, LLC
Shapes/Arch Holdings, LLC and its businesses
Aluminum Shapes LLC, Delair LLC, Ultra Hardware LLC and Accu-Weld LLC (collectively, the "Company"), a leading supplier of a range of industrial and building
products based in Pennsauken, New Jersey, exited from Chapter 11 protection today. An affiliate of H.I.G. Capital, a leading global private equity firm, is the owner of the Company and had provided debtor-in possession financing to and been the plan sponsor
for the Company since May 8, 2008. Wells Fargo Foothill, part of Wells Fargo & Company (NYSE: WFC), has provided the company with a $65 million senior secured facility.
"Today we debut as a more efficient and fully recapitalized company armed with a rekindled commitment to servicing our customers with world class products and services," reported Steven S. Grabell, the Company’s Chief Executive Officer.
Delair Group LLC President, Gerry Herson, stated, "We look forward to moving ahead with HIG and Signature and continuing to provide quality products and services to the pool industry and our Delgard customer base."
An affiliate of H.I.G. Capital is also the owner of Signature Aluminum (see www.signaturealuminum.com), a leading provider of custom aluminum extrusions and
alloyed aluminum billet to customers throughout North America. Aluminum Shapes and Signature Aluminum, when combined, represent the fourth largest extruder and remelter in North America.
Shapes/Arch Holdings, LLC, through its operating subsidiaries, is a manufacturer and distributor of a wide array of customized aluminum extrusions (see www.shapesllc.com), aluminum fence systems and swimming pools (see www.delairgroup.com), vinyl
residential replacement windows and steel doors (see www.accuweld.com) and value
priced hardware products (see www.ultrahardware.com).
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston and San Francisco in the U.S., as well as affiliate offices in London, Hamburg
and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service
businesses. H.I.G. invested in and managed more than 200 companies worldwide. The
firm’s current portfolio includes companies with combined revenues in excess of $7
billion. For more information, please refer to the website at www.higcapital.com.
FOR FURTHER INFORMATION CONTACT:
Shapes/Arch Holdings, LLC
Steven S. Grabell, Chief Executive Officer
856-317-5304
sgrabell@shapesllc.com
Delair Group LLC
Gerry Herson, President
856-663-2900
gherson@delairgroup.com
Signature Aluminum
Frank Papa, Chairman and CEO
919-467-3062
frank.papa@signaturealuminum.com
H.I.G. Capital
Sean Ozbolt & Craig Kahler
305-379-2322
sozbolt@higcapital.com & ckahler@higcapital.com
Posted: August 2008
|
