Graycliff Partners Announces Mezzanine Investment in Fairway Building Products
NEW YORK, August 12, 2014-- Graycliff Partners (“Graycliff”), an independent investment firm focusing on middle market private equity and mezzanine investments today announced it has completed an investment in Fairway Building Products (“Fairway”). Graycliff invested subordinated debt and equity financing in support of the purchase of a controlling stake in the Company by Argosy Private Equity. Graycliff’s investment in Fairway marks the fifth investment in Graycliff Mezzanine II LP, a fund with over $250 million in commitments.
Headquartered in Mount Joy, Pennsylvania, Fairway is a manufacturer of vinyl, aluminum and composite railing systems and distributor of ancillary building products. Fairway was founded in 1997 and has an additional manufacturing location in York, Nebraska. The company offers durable vinyl railing systems and lightweight aluminum and composite rail products and accessories primarily for residential decks. Fairway sells its products through wholesale distributors and direct building material distributors to residential homebuilders and commercial contractors.
“We were impressed by Fairway’s leading market position and reputation for excellence," said Andrew Trigg, Managing Director, Graycliff Partners. “Argosy Private Equity has a long track record of success and we look forward to partnering with them and the company’s co-founders, Dale Adams and Dennis Hazenstab, to support Fairway’s future growth.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
Jen Dowd, 617-556-9982, x225
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