Safe-Way Garage Doors, a portfolio company of CW Industrial Partners, announced it has entered into a definitive purchase agreement to acquire all assets of 1st United Door Technologies. While details of the agreement remain confidential, the acquisition signifies a strong partnership between two regional overhead door manufacturing leaders.
The acquisition allows Safe-Way to expand its distribution network into key western markets, while creating distribution opportunities for 1st United within the eastern half of the U.S. "We are excited about the combined footprint of 1st United and Safe-Way Door because it enhances our national presence and provides faster, easier access to a broader range of products for our customers," said Ted Rock, Safe-Way Garage Doors CEO.
While the combined company will be based in Warsaw, Ind., the organizations will continue to operate as they do today from their existing manufacturing and distribution centers under their respective brands. "Our customers have come to know and trust the 1st United name. We chose to partner with Safe-Way, and our customers can rest assured that all the benefits that come with the combined organization will still allow for the 1st United identity and customer-centric culture to continue, which is critical to the combined companies' future success," said John Jella, 1st United Door Technologies founder.
Rock added, "Safe-Way Garage Doors and 1st United Door Technologies are committed to sustainable business practices, with products proudly made in the U.S.A. As we embark on this new and exciting journey, our combined expertise, shared cultural values, and focus on customer satisfaction lay the foundation for a future defined by profitable growth in the overhead door industry."
Zelman Partners, a subsidiary of Walker & Dunlop, served as financial advisor and Calfee, Halter & Griswold LLP as the legal advisor on behalf of Safe-Way. Zoller Consulting served as the financial advisor and Buchalter as the legal advisor on behalf of 1st United.
