Clearlake Capital has agreed to buy Springs Window Fashions from AEA Investors and British Columbia Investment Management Corporation.
Springs makes and sells custom window coverings to retail and commercial customers, as well as independent designers, franchisors, and decorators.
AEA and BCIM bought Springs in 2018 from Golden Gate Capital, which had picked up the business five years earlier from Heartland Industrial Partners.
A statement attributed to Clearlake co-founder José Feliciano and partner Colin Leonard said, “Springs is an exciting addition to our portfolio given the compelling intersection among Clearlake’s experience in specialty building products, consumer brands, technology solutions, and specialty manufacturing.”
The deal is is expected to close in the third quarter.
Clearlake confirmed its position among the private equity heavyweights last year by surging past its target to close its newest private equity fund on more than $7bn.
That total is about double the $3.6bn Clearlake gathered for its predecessor fund just two years earlier, and brings its total assets under management to about $39bn overall.
The firm had initially hoped to raise $5bn for Clearlake Capital Partners VI, but soared past that total thanks to commitment from over 200 institutional investors.
Last week it agreed to buy bakery ingredients, products, and supplies business BakeMark from fellow private equity house Pamplona.
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