Morganthaler sells insulated glass maker

Date: 8 September 2005
Source: Crainscleveland.com

Date: 8 September 2005

Private equity firm Morgenthaler Partners of Cleveland has sold GED Integrated Solutions Inc. to a Florida-based private equity firm.

Terms of the deal for Twinsburg-based GED, a manufacturer of equipment that makes insulated glass, were not released in a statement from the buyer, Brockway Moran & Partners Inc. of Boca Raton, Fla.“We believe a significant opportunity exists to … expand GED’s technological and market leadership,” said Lawrence Shagrin, Brockway’s managing director.GED’s management team will continue to direct the company’s operations from Twinsburg and Hauppauge, N.Y., according to the statement.

Ron Auletta, GED’s chief executive, said the company has “aggressive growth plans.”

“Our long-term goals include both organic and acquisition-driven growth,” he said.

A Morgenthaler spokesman declined to disclose GED’s annual revenues or number of employees.

600450 Morganthaler sells insulated glass maker glassonweb.com

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