SOURCE: Greco Aluminum Railings
WINDSOR, ON--(Marketwire - Sep 10, 2012) - Greco Aluminum Railings Ltd, a welded aluminum balcony railing manufacturer based in Windsor, Ontario, Canada, announced today that O2 Investment Partners, LLC based in Bloomfield Hills, MI, USA, has partnered with Frank and Larry Greco and acquired a majority interest in Greco. Greco is a leading manufacturer of welded aluminum balcony railing systems for the North American multifamily housing market. Headquartered in Windsor, Ontario with offices in Toronto, Ontario and Bloomfield Hills, Michigan, Greco serves both the new construction and restoration markets for high, medium and low-rise condominiums, apartment buildings, hospitality and senior living facilities.
"We are very pleased by the confidence that O2 Investment Partners has shown in Greco Aluminum Railings and we look forward to working with O2 to further grow our business, both in Canada and the U.S. markets," said Frank Greco, President of Greco Aluminum Railings.
"As Larry and I looked for partners to help us take Greco to the next level, it was important to us and to our business that we have an investor and partner who shares our vision for growing the business. In addition to O2 Investment Partners' experience in building manufacturing businesses, several of its principals also have significant experience in the real estate, construction and multifamily housing markets."
Founded in 1991, Greco Aluminum Railings employs approximately 40 people and is the leading supplier of welded aluminum balcony railing systems in the Greater Toronto Area, as well as the broader Ontario and Canadian markets. In 2002, the company entered the U.S. market through its subsidiary, Greco Aluminum Railings USA. Greco's markets in the U.S. include an established presence in Chicago as well as projects in New York, Minnesota, Michigan, Arizona, Texas, Florida and several other states throughout the Midwest, Northeast and Southeast United States as well as the Caribbean.
Jay Hansen, President of O2 Investment Partners, added, "We are very pleased with our investment in Greco and its employees. The vision that Frank and Larry Greco and their management team have developed for this business are truly exciting and we look forward to supporting the Greco team in achieving their plan. We believe that Greco has the right combination of a talented and experienced workforce, efficient manufacturing processes, diversified customer base, and diversified markets to be extremely competitive in the North American multifamily housing market, which we expect to present significant growth opportunities in the years ahead. With this team and the support of our financial partners, such as Comerica and Penn Mezzanine, we are very optimistic about realizing these growth opportunities."
About O2 Investment Partners:
O2 Investment Partners is a Midwestern private equity firm that seeks to acquire a majority interest in small and middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
O2 invests equity on behalf of its principals as well as a core network of other principal investors and strategic partners. The firm invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. O2 Investment Partners is a sponsor of the upcoming ACG Great Lakes Capital Connection in Detroit (www.acg-glcc.org).
About Greco Aluminum Railings:
Greco Aluminum Railings Ltd. is a leading manufacturer of welded aluminum balcony railing systems headquartered in Windsor, Ontario with offices in Toronto, Ontario and Bloomfield Hills, Michigan. The company's welded railing systems are installed in both new construction and restoration projects for high, medium and low-rise condominiums, apartment buildings, hospitality and senior living facilities. Greco's welded balcony railings are often specified by architects, engineers and developers and have received praise throughout the construction industry for their high quality, reliable and innovative designs and for their ease of installation.
Additional information is available at www.grecorailings.com and www.o2investment.com.