April 1, 2021
Baird’s Business Owner Solutions (“BOS”) group is pleased to announce that it advised Cleer Vision Windows Inc. (“CVW” or the “Company”), a leading designer and manufacturer of windows serving the recreational and specialty vehicle markets, on its sale to Airxcel Inc., a portfolio company of L Catterton.
The CVW brand and management structure will remain intact following the acquisition. The transaction is expected to close in 45 days.
The BOS team had worked closely with CVW’s leadership over a multi-year period, providing ongoing guidance around market conditions, as well as information about potential partners in the space. This long-term partnership culminated with BOS advising CVW as the Company selected Airxcel as its preferred partner due to their aligned cultural values and strategic vision for the Company.
Based in Elkhart, Indiana, Cleer Vision began in 2003 as a small group of industry-experienced entrepreneurs seizing an opportunity to provide stylish and affordable windows. The company has grown to become a premium window manufacturer and glass fabricator in the RV, transit bus, and specialty vehicle industries.
Airxcel Inc. has been a designer, manufacturer, and distributor of products for the recreational vehicle (RV) and specialty HVAC markets for over 50 years. Airxcel began in 1991 as a divesture of the Coleman RV Air Conditioner division. The company has continued to grow through innovative product development, market expansion, and strategic acquisitions. Airxcel's 1,300-plus employees are based in eight facilities across the U.S. and Europe, where they design, manufacture, and distribute products all over the world.
L Catterton is a private equity firm that partners with consumer businesses and emerging high-growth enterprises.
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Business Owner Solutions utilizes a full-service model that brings the resources and experience generally available to larger companies to our “Main Street” clients. Our team's breadth and depth of experience enables us to deliver superior results to private companies. Our senior professionals are focused on advising emerging growth and lower middle-market companies in mergers and acquisitions, value and marketability assessment, and transition planning.