New Ownership for Virginia Mirror Company and Virginia Glass Products
Virginia Mirror Company (VMC)/Virginia Glass Products (VGP) are working with private equity firm Gemini Investors to recapitalize operations. This move allows the founders of VMC/VGP to transition ownership to the management team and an investment group. The entire leadership at VMC/VGP will remain the same, according to the announcement.
Virginia Mirror, which is based in Martinsville, Va., has been in business since 1913. It began in mirror supply and silvering to serve the region’s furniture industry. It added the Virginia Glass fabrication operations in 1956. Over the years, the company has expanded to provide all glass entrance doors and architectural tempered glass as well as frameless shower enclosures and laminated glass for the commercial construction market.
Michelle Kornack, vice president of Gemini, explains that the equity firm looks forward to partnering with VMC/VGP.
“We couldn’t be more excited to partner with the team at VMC/VGP,” she says. “The team has built great franchises and partnerships by delivering best-in-class products and service to their customers.”
Lixil Corp. Acquires Shower Door Maker Basco
Tokyo-based Lixil Corp. has acquired Basco, a U.S. manufacturer of shower doors. Lixil officials say the acquisition allows it to expand its kitchen and bath portfolio in the U.S. and provide “consumers with full showering and bathroom solutions.”
Basco is a family-owned business established in 1955. It is one of the largest manufacturers of custom shower enclosures in the U.S., with a strong presence on the East Coast and in the Midwest and Southeast.
“The business is an excellent strategic fit for Lixil in a segment that we have sought to strengthen for some time,” says Trey Northrup, leader of Lixil Americas.
Basco employees will be retained, and the company will run as a separate business unit for the foreseeable future.
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