Grey Mountain buys another glass firm
Financial terms of the transaction were not disclosed between Boulder-based Grey Mountain and North American Specialty Glass in Trumbauersville, Pennsylvania.
North American Specialty Glass previously filed for Chapter 7 bankruptcy, according to a press statement from Grey Mountain.
The purchase and additional capital from Grey Mountain has saved nearly 100 jobs at the company, Ted Jenny, president of North American Specialty Glass, said in the statement.
The Pennsylvania glass company specializes in transparency glass systems and develops glass and polycarbonate laminate technology used by the transportation and architecture industries and the military, the statement said.
"We look forward to immediately reopening the business and working with customers to satisfy their needs," Tom Ryan, chief executive officer of Consolidated Glass Holdings, an affiliate of Grey Mountain Partners, said in the statement.
Grey Mountain Partners has bought several companies in the glass and construction industries in the last several months, including Global Security Glazing in Selma, Alabama; Custom Components in Tampa, Florida; Bolttech Mannings in New Versailles, Pennsylvania; and Binswanger Glass in Memphis, Tennessee.
Grey Mountain's investment strategy includes investing in companies with values between $30 million and $150 million.
More breaking news...
Boulder files to avert Xcel obligation
Innovation center teams with city of Golden
The commission is