• Corporate Finance Transactions

BGL Completes the Sale of Edgetech I.G. to Quanex Building Products

April 14 2011

Brown Gibbons Lang & Company announced that its client Lauren International, Inc. has completed the sale of Edgetech I.G., Inc. to Quanex Building Products Corporation (NYSE:NX). The transaction was an all cash deal valued at $107 million. BGL served as a financial advisor and exclusive investment banker for Lauren International and provided a fairness opinion to Lauren International’s Board of Directors in connection with the transaction.

Headquartered in Cambridge, Ohio, Edgetech is a leading international manufacturer and supplier of high performance, energy efficient warm edge spacer products utilized in residential and commercial window units in both the new construction and replacement markets. Edgetech's spacer technology separates and seals double and triple pane glass within a window frame and is recognized as best-in-class in the industry for energy efficiency and durability. The company operates three extruding and manufacturing facilities in the U.S., United Kingdom, and Germany, and markets it full line of proprietary sponge rubber insulating glass spacer systems to a growing base of window and door manufacturers in North America and internationally.

“The strategic partnership with Quanex enables Edgetech to better serve its growing base of large and regional customers, and further accelerates its growth in international markets,” stated Kevin Gray, president & CEO of Lauren International. “The entire BGL team was quite impressed with the technology development and product commercialization capabilities of the Lauren team, truly an entrepreneurial success story,” said Andrew Petryk, managing director & principal at BGL. “We are honored to have had the opportunity to work with Lauren and Quanex - two industry leaders - in completing the transaction.”

Michael Gibbons, Andrew Petryk, and Joe Boleski led BGL’s transaction team and Kevin Sargent led BGL’s fairness opinion team. Day Ketterer Ltd. served as Lauren International’s legal counsel.

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, financial restructurings, and valuations & financial opinions. BGL is the lead U.S. shareholder in Global M&A, the world’s leading partnership of independent middle market financial advisory firms focusing on cross-border transactions. For more information, visit www.bglco.com.

About Lauren International

Lauren International Inc. through its subsidiaries provides engineered products and solutions that serve a multitude of markets including: transportation, building and construction, containers, energy and utilities, vehicle and transportation, agriculture, water technologies, and coatings industries. The company offers custom-engineered extruded and molded sealing solutions; dense rubber, insert-molded and rubber-to-metal bonded products; closed-cell sponge and dense polymer products; extruded seals, gaskets, and weather stripping; and EPDM, fluoroelastomers, neoprene, nitrile, silicone, SBR, and thermoplastic components. In addition, it operates a custom mixing facility for mixing rubber, plastic, and TPE compounds.

Lauren International, Inc. was founded in 1994 and is based in New Philadelphia, Ohio. The company has locations in Cambridge, Ohio, as well as the United Kingdom and Germany. www.laureninternational.com.

About Quanex

Quanex Building Products Corporation is an industry-leading manufacturer of engineered materials, components and systems serving the U.S. residential window and door markets. It is an ROIC-driven company that grows shareholder returns through a combination of organic growth via new products and new programs, and strategic acquisitions. The Company is listed on the New York Stock Exchange under the symbol NX. www.quanex.com

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Related industry: Building Products & Construction Materials
Related pages: Andrew K. Petryk, Michael E. Gibbons

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