Pella® Corporation Continues Acquisition Strides with Addition of Duratherm Window Corporation of Vassalboro, Maine
Release date:Nov 2, 2016
Printed from: http://pressroom.pella.com//news_releases/about/513/pella-corporation-continues-acquisition-strides-with-addition-of-duratherm-window-corporation-of-vassalboro-maine
Nearly 70 more employees have joined Pella Corporation as the company announced today the acquisition of Duratherm Windows Corporation, a leading manufacturer and designer of high-quality, customizable hardwood windows and doors that enhance and enable the designs of builders and architects.
“It was a pleasant surprise to me when I received a call from Pella, especially since I wasn’t actively seeking to sell the business,” said Tim Downing, president at Duratherm. “This partnership creates exciting possibilities for Duratherm. With Pella’s involvement, we will continue to be trailblazers within the architectural community and grow.”
Taking effect November 1, Duratherm Window Corporation will remain under the leadership of Tim Downing and maintain its brand and attention in the luxury marketplace. Over time, Duratherm will be integrated into the Pella Crafted Luxury collection. The Pella Crafted Luxury collection is showcased in the 7,000-square-foot showroom in LuxeHome® at Chicago’s Merchandise Mart.
“We’ve acquired Duratherm for Duratherm. Our goal is to support their endeavors and help the team do more of what they already do exceptionally well,” added Tim Yaggi, president and CEO of Pella Corp. “Duratherm rounds out Pella’s collection of elite brands and expands our geographic footprint on both the east and west coasts.”
This is the third acquisition for Pella during the past two years which include Grabill Windows & Doors, acquired in 2015, and Reilly Windows & Doors, attained in July 2016. Duratherm’s facility in Vassalboro, Maine, is about 11 miles north of the state capital, Augusta, and now increases Pella’s manufacturing locations to 13 throughout the United States.
The terms of the sale will not be disclosed as Pella and Duratherm are both privately-held companies.