San Jose, CA, September 10, 2020 --(PR.com
)-- An investor group led by The Courtney Group, Incorporated has acquired a controlling interest in Peninsulators Inc. along with its affiliates Peninsulators Northwest and A Shade Above.
Based in San Jose, California, Peninsulators is a leader in the sale and installation of commercial window coverings. The Company also provides engineering, design, and maintenance services. Founded in 1985, Peninsulators has long served many of the leading technology companies in Silicon Valley, and expanded to serve these companies in Seattle, Washington. Peninsulators is known for providing solutions within the office, healthcare, hospitality, education, and public sectors. In the healthcare sector, the Company installs both manual and automated window coverings, as well as privacy curtains for hospitals and clinics. In addition to its commercial clients, the Company, through the A Shade Above division, provides homeowners with high-end window coverings, audio visual systems, and home automation solutions.
Partners Tom Courtney, Alan Macksey and Ed McKenna, PhD of The Courtney Group led the transaction and will assist the Company in establishing and executing its strategic growth plan. Other investors include Lake Country Capital, a debt and equity provider based in Minneapolis, MN and Los Angeles, CA.
Co-Founder and CEO Ross Haisley, along with Co-Founder and COO John Thomas, will maintain an ownership stake and will continue in their full-time management roles. Mr. Haisley commented, “We are very pleased to have partnered with The Courtney Group and are excited about what Tom, Alan, and Ed bring to the table. Their experience in backing founder-owned businesses and their expertise in strategic acquisitions, geographic expansion, and technology will be invaluable as we seek the next level of success.” Mr. Thomas added, “We founded Peninsulators 35 years ago in a garage, but, from the very beginning, have enjoyed a reputation for excellent work and attention to detail. We intend to maintain and build on that foundation as we work with The Courtney Group to pursue some ambitious new strategic growth initiatives.”
Tom Courtney said, “Peninsulators is an outstanding company with proven leadership. We are looking forward to a strong partnership, and we have identified many exciting opportunities for growth.”
Mr. Courtney, founder of The Courtney Group, has invested in or served as an advisor to many companies, including American Piping Products. Dr. McKenna was previously Chief Scientist and Engineer at Covidien, where he was responsible for the development of innovative, technology-driven products. Mr. Macksey has extensive experience in acquiring and growing middle market companies, including those in the business services, healthcare, and contracting sectors.
Terms of the transaction were not disclosed.
With an extensive history in providing superior service, Peninsulators has raised the bar in the window coverings industry thanks to its innovative thinking, engineering, reliability and experience. With offices in three locations and 80+ employees across the West Coast, the Peninsulators’ team of experts is ready to provide their customers with unique solutions. From manual and motorized shades, to exterior solutions, and fully automated buildings – no project is too small or too difficult. For more information, visit www.peninsulators.com.
About A Shade Above
A Shade Above offers integration systems for the highest quality home automation products. Since 2010, A Shade Above has been solving problems for architects, designers, contractors, and homeowners who want their spaces and lives to be effortless, uncluttered and comfortable – all at the touch of a button. A Shade Above sells and installs custom residential products including motorized window shades and coverings, lighting systems, home theaters, sound systems, and design products. For more information, visit: www.ashadeabove.com.
About The Courtney Group, Inc.
The Courtney Group, Incorporated is a private investment firm based in Newport Beach, California. Since 1999 the firm has acquired or invested in 22 companies. The Courtney Group seeks to invest in companies with revenues of $10 million to $500 million, cash flow of $2 million to $50 million, with equity investments of $1 million to $200 million. Targeted industries include business services, consumer, chemical, financial services, healthcare, manufacturing, and technology. The Courtney Group has a focus on working with founders of businesses to help them meet their goals. For further information please visit www.thecourtneygroup.com.
About Lake Country Capital
Lake Country Capital (LC2) is a debt and equity investment firm providing transitional and growth capital to U.S.-based lower middle market companies. LC2 targets businesses with EBITDA of at least $2 million across a variety of industries, including the manufacturing, business services, consumer-related and medical/healthcare sectors. The firm invests primarily in debt securities encompassing a range of senior and subordinated, as well as structured equity securities. The firm works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. LC2 maintains offices in Minneapolis and Los Angeles. For more information, please visit www.lakecountrycapital.com.