For Immediate Release Contact: Amy Zimmerman
312-932-8405
Republic Windows & Doors Receives Equity Financing from Chase Capital Corp.
Chicago, IL – February 15, 2007 -- Republic Windows & Doors, LLC, a leading manufacturer of vinyl windows and doors, announced today that Chase Capital Corporation, a division of JPMorgan Chase & Co., has acquired a minority interest in Republic.
“We had been searching for an investor that believed in Republic’s potential for growth and valued our longstanding reputation as an innovator in the building products industry,” said Barry Dubin, Republic’s Chief Operating Officer, “We found that partner in Chase Capital.”
The infusion of equity capital has allowed Republic to restructure its trade debt while giving the Company the additional capital it requires to:
· Continue to improve manufacturing efficiencies and quality through the acquisition of additional production equipment;
· Extend its portfolio of window products to include windows designed specifically for the distribution market;.
· Pursue strategic partnerships to maximize shareholder value.
“We chose Republic as our first equity investment because it has worked very hard over the past 15 months to reduce its costs and improve its quality, timeliness and productivity, while maintaining its customer base,” said Dave Schabes, co-head of Chase Capital, which began investing in mid-size businesses in January. “We are confident that the company can continue to build on this significant progress.”
About Republic Windows & Doors:
Republic Windows & Doors, LLC, founded in 1965, is a leading manufacturer of vinyl windows and doors for new construction and replacement applications. Headquartered in Chicago, Republic distributes its many ENERGY STARÒ qualified products throughout the US to more than 25 states.
About Chase Capital:
Chase Capital, a unit of JPMorgan Chase & Co. (NYSE: JPM), focuses on providing subordinated debt and equity to privately-held businesses with annual revenues of less than $1 billion.
NOTE TO EDITORS: For additional information about Republic, visit www.republicwindows.com.