BGL Client Lauren International Signs Agreement to Sell Edgetech I.G. to Quanex Building Products
February 03 2011
Brown Gibbons Lang & Company announced today that its client Lauren International, Inc. has signed a definitive agreement to sell its wholly-owned subsidiary, Edgetech I.G., Inc., to Quanex Building Products Corporation (NYSE:NX). The transaction is an all cash deal valued at $107 million and is subject to applicable governmental regulatory approval. BGL is serving as Lauren International’s exclusive financial advisor and investment banker, and provided a fairness opinion to Lauren International’s Board of Directors in connection with the signing of the agreement.
Headquartered in Cambridge, Ohio, Edgetech is a technological leader in the manufacturing of spacer products utilized in residential and commercial window units for both new construction and replacement projects. Edgetech's patented spacer technology separates and seals double and triple pane glass within a window frame and is internationally recognized in the industry for energy efficiency and durability. The company operates three manufacturing facilities in the U.S., United Kingdom, and Germany, and markets it full line of insulating glass spacer systems to a growing base of window and door manufacturers in North America and internationally.
Michael Gibbons, Andrew Petryk, and Joe Boleski are leading BGL’s transaction team and Kevin Sargent led BGL’s fairness opinion team. Day Ketterer Ltd. is serving 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.
Building Products & Construction Materials
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