Date
Mar 2021
Region
Upper Midwest
We are pleased to share the sale of New Windows for America of Minnesota, Inc. to Mad City Windows & Baths (Mad City). The acquisition closed March 12, 2021.
Located in New Brighton, Minnesota, New Windows for America (NWFA) is a factory direct supplier of some of the highest quality windows, baths, doors, attic insulation, siding, and roofing products available. The business was wholly owned by Jim and Rhonda Steffes.
NWFA has helped Minnesota homeowners update their homes for nearly two decades and has become the premier home remodeling company in the area. NWFA has installed 50,000 windows in the Twin Cities, and also provides a wide variety of other remodeling services: Bathroom remodeling, door replacement, roofing, siding, and insulation.
Mad City is a subsidiary of Titan Home Improvement (Titan), a leading network of home improvement brands that offer best-in-class replacement and remodeling services including windows and doors, roofing, bathroom, kitchen cabinet refacing, and more.
"Our goal since our founding in 1998 has been to make Mad City the No. 1 remodeler in the Midwest, and this transaction is another step toward achieving that goal," Nathan Richmond, President of Mad City. "We are excited by the growth we are seeing and look forward to similar acquisition opportunities as we continue to expand our footprint."
"This is our first acquisition of 2021, and we anticipate more to follow soon as we continue to scale our business across the country and take advantage of the strong market for home improvement," said Daniel Gluck, CEO of Titan Home Improvement. "Nathan and his team have done a tremendous job growing the Mad City business and we look forward to continuing to support them as they enter new markets across the Midwest."
Generational Equity Managing Director Don Ho was the lead dealmaker who successfully closed the transaction. Mr. Ho stated, “We are very excited to be a part of the strategic acquisition of New Windows for America by Mad City Windows & Bath. We are very honored to represent Jim and Rhonda Steffes and are thrilled to help them achieve their goals of selling the business in order to prepare for an eventual future retirement.”
Mr. Ho added, “This acquisition will allow the combined entity to be a dominant player in the home improvement industry in the Minneapolis metropolitan markets, while providing more resources to better serve its customers and employees.”
Mr. Ho is a seasoned dealmaker who is supported by Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss. Executive Managing Director Bill Kushnir established the initial relationship with NWFA.
If you’d like to explore other M&A transactions our associates have supported in this industry, visit our dedicated Construction and Engineering M&A Deals page.
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