Clearlake has purchased Middleton, Wis.-based Springs Window Fashions from affiliates of New York-based AEA Investors and British Columbia Investment Management Corp., based in Victoria, British Columbia.
Financial terms of the transaction were not disclosed. The acquisition is subject to customary regulatory approvals and is expected to close by Oct. 31.
Springs, which employs more than 9,000 globally, manufactures and sells custom window coverings to retail and commercial customers, as well as independent designers, franchisors and decorators.
The company’s portfolio includes blinds, shades, awnings, shutters and soft coverings, all of which are sold through a suite of national brands, including Bali, Graber, Horizons, SWFcontract, Mecho, Mariak and SunSetter.
“We are excited to partner with the entire Springs organization and bring all of Clearlake’s available resources to accelerate the company’s compelling growth plan,” said José Feliciano, Clearlake’s co-founder and managing partner.
“Springs has developed a stellar reputation for product innovation, driven by significant recent investments behind its formidable brands,” added Nate Mejías, vice president at Clearlake.
Clearlake will drive “accelerated growth” at Springs through both organic and acquisition-focused initiatives, Mejías said.
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