Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Windows Installation Specialists, Inc. (“WIS”), a premier glazing, waterproofing and window installation company that specializes in complex large-scale commercial projects, in its acquisition by Exchange Income Corporation (TSX: EIF) (“EIC”) for $45 million, subject to customary post-closing adjustments.
WIS, founded in 1998 by owner and CEO Louis Mark, is a full-service glazing company specializing in sales, consultation, installation and service of pre-glazed fenestration (windows) products. For the last decade, Quest Window Systems, Inc. (“Quest”), an EIC subsidiary, has been a key supplier and partner to WIS. Together they provide services under supply and install contracts. The acquisition of WIS represents a significant strategic investment further vertically integrating Quest’s operations.
In explaining the decision to sell to EIC, Mr. Mark stated, “We knew we had a great partner in Quest and wanted to solidify our relationship. This transaction will ensure we can continue to build that successful partnership and strengthen the company’s long-term future. I am confident this is the right decision for our company, our employees, and our customers. Furthermore, I’m extremely grateful to the team at Cascadia for helping me to realize this next phase of growth for the business I have spent my career building.”
“The acquisition of WIS by EIC represents another great instance of Northwest entrepreneurial success,” added Jamie Boyd, Managing Director at Cascadia Capital, “Louis built this business into a market leader over the last 20 years, and it was extremely rewarding to be able to support and realize his vision.”
The acquisition represents another successful transaction for Cascadia advising private entrepreneur-led and family owned businesses.
For more information about this transaction, please the contact Cascadia Capital deal team: