"We are confident this transaction will expand our portfolio of capabilities and products in a way that will enable us to better serve our collective customers."
WORTHINGTON, Ohio (PRWEB) May 07, 2019
On Friday, May 3, Custom Glass Solutions, LLC (“CGS”), a leading glass manufacturer focused on transportation applications, acquired NASG Holdings, Inc. (“NASG”) from Consolidated Glass Holdings, Inc. Founded in 1965, NASG is a leading specialty glass and window manufacturer based in Trumbauersville, PA. The financial terms of the transaction were not disclosed.
“NASG has a history of ingenuity and an ability to produce unique framed-glass applications that set the standard in the industry,” said Neale Yeomans, Chief Executive Officer at CGS. “We are excited to work with the talented team at NASG to realize the potential synergies unlocked by a CGS and NASG combination.”
NASG offers a full portfolio of glass products for transportation applications with a focus on framed assemblies for rail, armored vehicles, commercial vehicles and more. The company is one of the largest safety and security glass producers in the country, serving global customers with high-performance, transparent glass systems.
Yeomans said the opportunity to add a new capability to CGS’ core competencies was a motivating factor in the acquisition.
“NASG offers an expertise in framing that will open doors to new customers and strengthen our offerings to existing customers,” he said. “When we evaluated the combination of NASG and CGS we realized there are significant opportunities to create win-win scenarios for both businesses.” Yeomans continued, “this is an important step toward our strategic growth objectives. We are confident this transaction will expand our portfolio of capabilities and products in a way that will enable us to better serve our collective customers.”
CGS, which has been fabricating windshields in Ohio since 1974, recently announced additional expansion plans in Ohio with a new facility in Fostoria. In October of 2018, the company was acquired by Stellex Capital Management, a private equity firm that invests in middle-market companies in North America and Europe.
About Custom Glass Solutions
Custom Glass Solutions, LLC (CGS) is North America’s leading producer of large-format, laminated glass systems. In addition to laminated glass, CGS also manufactures flat, bent and tempered glass systems, offering a broad range of capabilities and the most diverse selection of products for many different transportation segments. Through its Network business, CGS also works with insurance companies, fleet operators and vehicle owners to coordinate glass replacement services. The company operates out of three facilities in Ohio and employs hundreds of the most talented men and women in America.
NASG Holdings, Inc (NASG), a Consolidated Glass Holdings company, founded in 1965, offers a full line of transportation products ranging from glass only to complete window assemblies for light and heavy rail, locomotives, military and commercial vehicles and more. Today, NASG is one of the largest safety and security glass producers in the United States, serving customers worldwide with high-performance transparency systems for architectural, armored vehicles, railways and other specialty end-use applications.
About Stellex Capital Management
Stellex is a private equity manager that invests in and oversees U.S. and European corporate assets. Stellex’s focus is on middle-market companies going through business or industry transitions, as well as special situation opportunities. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth for its portfolio companies.