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Heywood Williams Sells Creation to Dura
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July 2003 |
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Heywood Williams Group PLC (LSE:HYWD), with revenue of over $900 million, is Britain’s leading manufacturer and distributor of PVC windows, doors and related products to the home-improvement market |
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Heywood retained TM Capital to divest the Creation Group, a leading U.S. manufacturer of windows, doors and aluminum fabricated parts to the specialty automotive, RV and manufactured housing markets |
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TM Capital assisted in completing the sale of Creation to Dura Automotive Systems, Inc. (NASDAQ:DRRA) for $60 million, including $57 million in cash plus a $3 million earnout |
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Dura is a $2.4 billion revenue manufacturer of driver and seating control products, doors, and integrated glass systems sold to the automotive, recreational vehicle and specialty vehicle industries |
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The divestiture strengthens Heywood’s balance sheet and supports its strategy to focus on its core UK windows, doors and home-improvement businesses |
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