LONGWATER OPPORTUNITIES ANNOUNCES ACQUISITION OF SAN BENITO SHUTTER COMPANY
Hollister, California, April 5, 2016 — LongWater Opportunities, an operationally-focused private equity firm headquartered in Dallas, Texas, is pleased to announce the acquisition of San Benito Shutter Company in partnership with Bill and Michele Lee, who have led the business since its inception 26 years ago. The Lees will retain ownership of the company they built and will continue to manage the growth of San Benito Shutter in partnership with LongWater.
San Benito Shutter Company was founded by Bill Lee in 1990 as a small wood shutter manufacturing business operating as a one-man show out of a residential garage in Northern California. Fast forward 26 years later and San Benito Shutter has grown into one of the largest manufacturers and distributors of completed shutters and shutter components in the U.S. San Benito Shutter is headquartered in Hollister, CA where it custom manufactures completed wooden and poly shutter panels from its purpose-built 113,000 square foot facility. Additionally, San Benito Shutter maintains a broad and deep inventory of wooden and poly shutter components along with shutter hardware, paint, and sundries in four distribution centers in California, Texas, Florida, and Georgia totaling nearly 175,000 square feet. To ensure the highest customer service, San Benito Shutter also maintains its own fleet of trucks and vans for customer deliveries.
San Benito Shutter has revolutionized the shutter business by ensuring quality components are made available to shutter fabricators in a manner of days, not weeks. Moreover, with its proprietary purchasing software available to customers, San Benito Shutter takes the guesswork out of the ordering process. As a manufacturer and distributor with the broadest inventory and product offering in the industry, San Benito Shutter is a one-stop shop for shutter needs, serving retailers, interior design firms, and shutter fabricators nationwide.
San Benito Shutter Company is the third investment in LongWater’s second equity fund. Will Dobbs, a Partner at LongWater, commented, “We are very excited to partner with Bill and Michele Lee to continue the legacy they have been building over the past quarter century. Bill and Michele have a driving passion for their business which permeates throughout the organization as well as with customers. Moreover, they have the competitive spirit, ingenuity, and work ethic to make San Benito Shutter one of the largest players in the window covering industry.”
Bill Lee, the founder of San Benito Shutter who will continue in his role as Chief Executive Officer, noted “We are thrilled to partner with LongWater as we embark on the journey of continued growth. From the beginning, Michele and I have known that with hard work and dedication, we could become a leader in our industry. By partnering with LongWater, we are excited to embrace their philosophies, knowledge, and amazing track record in taking successful family-owned and operated businesses to the next level of growth and functionality."
About LongWater Opportunities
LongWater Opportunities, headquartered in Dallas, Texas with an office in Fargo, North Dakota, is an operationally-focused private equity firm that targets control buyout equity investments in lower middle market U.S. based manufacturing companies in partnership with family owner-operators and entrepreneurs. LongWater was founded in 2009 with a vision to create a different kind of private equity firm – one that centers on mutually aligned interests and investing patient capital to build successful American manufacturing businesses. LongWater recognizes that long-term value is created through taking a hands-on approach with its portfolio companies to identify and execute strategic and operational initiatives that create sustainable competitive advantages.
For more information, please visit longwateropportunities.com.