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NORWALK, Conn., Sept. 25, 2024 /PRNewswire/ — Heartwood Companions® is happy to announce that on September 23, 2024, Heartwood Companions III, LP (“Fund III”) and affiliated entities signed a definitive promise to promote their funding in UW Answers (“UW”, or the “Company”) (www.uwsolutions.com) to Apogee Enterprises, Inc. (Nasdaq: APOG) (“Apogee”) in a transaction valued at $240 million. The transaction is predicted to alike then within the fourth quarter discipline to pleasure of normal extreme situations.
Headquartered in Louisville, KY, UW Answers is a important producer of complicated floor lined merchandise impaired in graphics and cupboard mezzanine decking packages. Thru years of analysis, construction, and innovation, the Corporate has created best-in-class answers throughout a number of key industry sections together with HD printable fabrics (ChromaLuxe® and Unisub® manufacturers), business floor methods (ResinDek®), and Engineered coatings (R&D Coatings®).
Underneath Heartwood Companions’ possession, UW constructed out a top-tier leadership group and effectively grew the industry by means of making an investment in folk, methods, and a 2nd state of the art production facility. Moreover, the Corporate finished the purchase of RDC Coatings®, which remodeled UW right into a vertically built-in coatings producer.
UW Answers CEO, Devlin Riley¹, commented “Heartwood Partners’ willingness to invest in people and importantly fully leverage its internal value creation specialist team and playbook led to this outcome. The strength and stability of their unique lower-debt structure has allowed UW to grow into a world-class provider of coating solutions. We are excited to partner with Apogee for the next chapter of UW’s growth story.”
Demetrios Dounis, Managing Spouse at Heartwood Companions mentioned: “We are proud of our partnership with UW Solutions and the successful outcome that we were able to realize for our investors. This represents the third exit for Fund III and another example of how our current cash-yield and lower leverage model can deliver real wins in any deal market environment. It has been a pleasure partnering with management to transform and grow the business. We look forward to watching the business continue its growth trajectory as part of Apogee.”
Finn Dixon & Herling LLP served as prison consultant and Harris Williams served as monetary abettor to UW Answers and its buyers.
Heartwood Companions, a center marketplace non-public fairness company based in 1982, is differentiated by means of a novel lower-leverage, flow money surrender manner designed to build partnership with proceeding leadership. Our manner combines a conservative capital construction with strategic execution to help long-term expansion, together with natural and acquisition-driven enlargement into unused merchandise, products and services, and finish markets. As well as, we help every leadership group with our in-house Price Initiation Consultants who lend deep, subject-matter experience in strategic gardens comparable to eCommerce and virtual advertising, human capital and organizational design, and IT development and acquisition integration. We recently lead over $1.4 billion in investments and constancy as of 12/31/23, and our principals have invested in additional than 100 platform and add-on acquisitions. Heartwood is recently making an investment from Heartwood Companions IV, LP, and is keen on founder, people and management-held companies serving the area of interest production, forte chemical compounds, meals, agriculture, packaging, and business & client products and services markets. For supplementary details about Heartwood, please seek advice from www.heartwoodpartners.com.
¹Mr. Devlin Riley isn’t a consumer or investor of Heartwood Companions, nor was once he compensated for his statements herein.
SOURCE Heartwood Companions
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