Springs Window Fashions Announces Executive Transition

MIDDLETON, Wis., April 11, 2017 /PRNewswire/ -- Springs Window Fashions, LLC ("Springs" or the "Company") today announced that Eric Jungbluth has been named Chief Executive Officer. His appointment was effective April 10, 2017. Concurrent with the appointment, Scott A. Fawcett, who has served as CEO of Springs since 2008, will become Executive Chairman of Springs.

Rajeev Amara, a Springs Board member and Managing Director of Springs' majority shareholder Golden Gate Capital, commented: "Scott has been an outstanding leader and a driving force of Springs' growth, expanding its brands and channels and fostering strong relationships with its community of customers and partners. We thank him for his many contributions to Springs during his 22 years at the Company and look forward to continuing to benefit from his leadership as he takes on the Executive Chairman role."  

Under Mr. Fawcett's leadership as CEO, Springs has meaningfully scaled its business through a focus on accelerating sales and investing in marketing resources, expanded its offerings in patio awnings, commercial solar shades and other highly complementary areas, and integrated five successful acquisitions. As Executive Chairman, Mr. Fawcett will provide counsel to the Company's senior leadership to support its strategic decision making.

Mr. Fawcett said: "I am fortunate to have worked with an exceptionally dedicated and talented team, and today our company is stronger than ever. For that reason, the Board and I have decided that now is the right time to initiate this change and position our Company for continued success, and we are confident that Eric is the right person to lead our Company into an exciting new phase of growth. Eric shares Springs' passion of delivering the 'Best Experience' for our customers, partners and employees, and he brings tremendous experience growing businesses in residential and commercial markets. I look forward to working with Eric and continuing to provide strategic counsel in my capacity as Executive Chairman." 

Mr. Jungbluth brings to Springs over 16 years of experience in the consumer building products and industrials sectors, most recently serving as CEO and President of CPG International, a manufacturer of market-leading brands of highly engineered, premium, low-maintenance building products for residential, commercial and industrial markets. During his tenure as CEO from 2008-2016, CPG's revenue more than doubled and profitability outpaced sales growth. This period of rapid growth was achieved through entering adjacent categories via new product development and acquisitions, transforming CPG into a market-leading manufacturer of highly engineered, premium building materials. Today, CPG's residential brands, AZEK and Timbertech, are highly regarded for providing best-in-class quality and innovation.

Mr. Amara continued: "We are extremely pleased to bring on an executive of Eric's caliber to lead the Springs management team. He has significant experience in the space and a demonstrated track record of building businesses and forging strong relationships with key stakeholders. We look forward to working with Eric as Springs embarks on its next chapter of growth."

Mr. Jungbluth said: "It is a rare opportunity to join a company like Springs that has already achieved remarkable success, and I admire the Company's dedication to constantly improving the value that it delivers to customers and partners. I am excited to work with Scott, the rest of the Board and Springs' excellent management team to build upon Springs' stellar track record as we continue to grow the business."

Prior to CPG, Mr. Jungbluth served as Executive Vice President of HNI Corporation and President of The HON Company, a well-recognized developer of workplace furniture, as well as President of Allsteel Inc. Earlier in his career, he held several senior roles at Moen Inc., a division of Fortune Brands, served as Vice President of Sales at Kirsch, a division of Newell, and spent ten years at Warner Lambert working in sales, marketing and brand management. Mr. Jungbluth has a Bachelor's degree from the University of Wisconsin – Lacrosse in Finance.

About Springs Window Fashions
Springs Window Fashions, the Best Experience Company, supplies leading retailers and distributors with a complete line of blinds, shades, specialty treatments and window hardware. Bali®, Graber® SWFcontract®, MechoSystems®, Horizons®, Mariak® and SunSetter® are brands of Springs Window Fashions. Based in Middleton, Wis., the company has facilities in nine locations in the United States and Mexico and employs approximately 8,000 associates. For more information, visit www.springswindowfashions.com.

About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable investments sponsored by Golden Gate Capital include Springs Window Fashions, Phillips-Medisize, ANGUS, Humanetics Innovative Solutions, EP Minerals, and U.S. Silica. For more information, visit www.goldengatecap.com.

SOURCE Springs Window Fashions, LLC

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http://www.springswindowfashions.com