MPE Partners Announces The Sale Of Glass Technology Concepts, LLC

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Dec 22, 2020, 15:00 ET

CLEVELAND and BOSTON, Dec. 22, 2020 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity"), a preferred partner for entrepreneur- and family-owned companies, announced the sale of Glass Technology Concepts, LLC ("DreamLine" or the "Company") to American Bath Group, LLC ("ABG"). Headquartered in Warminster, Pennsylvania, DreamLine is a market leading, technology-driven designer, manufacturer, and marketer of premium shower products including frameless glass shower doors, shower enclosures, tub doors, and acrylic shower bases.

Chris Yankowich, CEO of DreamLine, remarked, "MPE has been a great strategic partner to DreamLine as we transitioned from entrepreneur ownership and executed on an aggressive growth plan, integrated our first acquisition, and developed our best-in-class employee base. We have very much enjoyed the partnership with MPE and are proud of the strong foundation that positions us well for continued success."

Joe Machado, Partner at MPE, added, "DreamLine successfully evolved to institutional ownership while still maintaining the culture of the founding entrepreneurs. When combined with continued investments in people, processes, and systems, along with a strategic acquisition, we were able to double earnings since our original investment."

Graham Schena, Partner at MPE, noted, "During MPE's ownership, the Company completed its first ever acquisition and successfully integrated two companies with strong entrepreneurial cultures. The combination of disruptive proprietary technology and a national distribution network laid the groundwork for the digital transformation of the shower door industry. We were honored to be selected as the preferred investment partner for the DreamLine and Arizona brands."

Lincoln International LLC acted as the exclusive financial advisor to DreamLine on the transaction. Jones Day served as legal counsel. Terms of the transaction were not disclosed.

About DreamLine

DreamLine is a market leading technology-driven designer, manufacturer, and marketer of branded premium shower products, including frameless glass shower doors, shower enclosures, and acrylic shower bases under the DreamLine and Arizona Shower Door brands. With nationwide distribution capabilities, the Company offers over 10,000 products across more than 60 models, including several top selling frameless shower doors. DreamLine's disruptive technology has enabled it to offer a large variety of "virtual custom" shower doors to meet the diverse style and appearance preferences of consumers, designers, and builders, at a fraction of the cost of traditional custom shower door options.

About MPE Partners

MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA typically between $5 - $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.

SOURCE MPE Partners