Sarasota window and door company completes equity investment

A Sarasota window and door company recently completed an equity recapitalization by an affiliate of Cross Rapids Capital LP as the business aims to scale.

All Glass & Windows provides impact-resistant windows and doors to residential, commercial and industrial customers. Its headquarters is located off Fruitville Road near Interstate 75.

Cross Rapids Capital, a New York-based investment firm focused on middle-market industrial and services companies, is investing in the growing Sarasota company, according to a statement. Financial terms of the investment weren't disclosed.

“We look forward to supporting the company's management team in the execution of their organic and inorganic growth plans to achieve their long-term strategic goals,” Cross Rapids Capital says in the statement.

Christopher Harris, who co-founded All Glass & Windows in 2009, says Cross Rapids Capital is helping to “support the next phase of growth” for the company, which has expanded geographically and in its service offerings in the last decade.

“They will help us to scale our business, while continuing to serve our customers with the reliable and personal service that they expect," Harris says in a statement.

The equity recapitalization by Cross Rapids Capital comes as another partner exits its investment. Prospect Partners, a Chicago investment firm specializing in pre-middle-market companies, initially recapitalized All Glass & Windows with management in 2016, according to a statement.

“During our partnership, we built out the leadership organization, opened a dedicated distribution facility, launched a direct-to-homeowner remove and replace offering, and expanded geographically throughout south Florida," Mike McInerney, partner at Prospect Partners, says in a statement.

Amid the shift in investment partners, co-founder of All Glass & Windows David Fleeman says the company will remain focused on its mission.

“We will continue to execute our mission with an owner-operated, family-first approach to doing business," Fleeman says.

Through the equity recapitalization, TM Capital Corp. served as financial advisor and DLA Piper LLP as legal counsel to All Glass & Windows. Greenberg Traurig LLP served as legal counsel to Cross Rapids Capital.