By Generational EquityApr 7, 2021, 07:00 et
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of New Windows for America of Minnesota, Inc. to Mad City Windows & Baths (Mad City). As advisor for the deal, Generational Equity has notched yet another successful negotiation to its record of success. The acquisition closed March 12, 2021.
This acquisition will allow the combined entity to be a dominant player in the home improvement industry in the Minneapolis metropolitan markets, while providing more resources to better serve its customers and employees.
Located in New Brighton, Minnesota, New Windows for America (NWFA) is a factory direct supplier of some of the highest quality windows, baths, doors, attic insulation, siding, and roofing products available. The business was wholly owned by Jim and Rhonda Steffes.
NWFA has helped Minnesota homeowners update their homes for nearly two decades and has become the premier home remodeling company in the area. NWFA has installed 50,000 windows in the Twin Cities, and also provides a wide variety of other remodeling services: Bathroom remodeling, door replacement, roofing, siding, and insulation.
Mad City is a subsidiary of Titan Home Improvement (Titan), a leading network of home improvement brands that offer best-in-class replacement and remodeling services including windows and doors, roofing, bathroom, kitchen cabinet refacing, and more.
"Our goal since our founding in 1998 has been to make Mad City the No.1 remodeler in the Midwest, and this transaction is another step toward achieving that goal," Nathan Richmond, President of Mad City. "We are excited by the growth we are seeing and look forward to similar acquisition opportunities as we continue to expand our footprint."
"This is our first acquisition of 2021, and we anticipate more to follow soon as we continue to scale our business across the country and take advantage of the strong market for home improvement," said Daniel Gluck, CEO of Titan Home Improvement. "Nathan and his team have done a tremendous job growing the Mad City business and we look forward to continuing to support them as they enter new markets across the Midwest."
Generational Equity Managing Director Don Ho was the lead dealmaker who successfully closed the transaction. Mr. Ho stated, “We are very excited to be a part of the strategic acquisition of New Windows for America by Mad City Windows & Bath. We are very honored to represent Jim and Rhonda Steffes and are thrilled to help them achieve their goals of selling the business in order to prepare for an eventual future retirement.”
Mr. Ho added, “This acquisition will allow the combined entity to be a dominant player in the home improvement industry in the Minneapolis metropolitan markets, while providing more resources to better serve its customers and employees.”
Mr. Ho is a seasoned dealmaker who is supported by Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss. Executive Managing Director Bill Kushnir established the initial relationship with NWFA.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company the 2017 and 2018 Investment Banking Firm of the Year and Valuation Firm of the Year in 2020. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
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