News & Press Releases
Fleetwood Industries, Inc. Announces Transaction with Grey Mountain Partners
LEESPORT, Pa. – Feb. 10, 2014 – Fleetwood Industries, Inc. (known as Fleetwood Fixtures) announced the completion of a transaction in which the company transitioned its ownership to a financial sponsor, Grey Mountain Partners, to help support its strategic growth plan.
The 46-year-old company, which was previously owned principally by the son and daughter of its founder, will continue to operate out of its 287,000 sq. ft. facility in Leesport, Pennsylvania and provide custom store furnishings and displays to retail brands throughout the United States and the world.
“We are so happy to continue the great tradition established by our previous owners, Darrell Helms and Mindy Gehris, of providing world-class products and services to our industry,” said Don Doherty, President & CEO at Fleetwood. “Our new financial partnership with Grey Mountain Partners provides us access to the capital required to continue to grow and lead our industry through innovation and the highest possible quality and service levels. We are proud of our legacy and now proud to have Grey Mountain supporting our path into the future.”
Will Pucillo, Affiliate Manager at Grey Mountain, said, “We are thrilled to partner with Don and his team as they execute upon an exciting business plan and continue serving Fleetwood’s blue chip retail customers.”
About Fleetwood Fixtures
Founded in 1968, Fleetwood Fixtures is one of the leading providers of custom furnishings and displays to retail brands. Headquartered in Leesport, Pennsylvania, Fleetwood also has service locations in New York and Chicago as well as an Asian headquarters in Shanghai, China. Discover more at www.fleetwoodfixtures.com
About Grey Mountain Partners
Grey Mountain Partners is a Boulder, Colorado-based private equity firm that focuses on acquiring family-held companies and partnering with management teams to create lasting value through operational improvements and organic and acquisition-based growth strategies. The firm invests in lower middle-market companies across a wide range of industries and in transactions with enterprise values between $30 million and $150 million. Grey Mountain is currently investing from its third fund, a $425 million 2013 vintage fund. For more information, please visit www.greymountain.com