Pella Corporation Announces Divestiture within Luxury Division

Divestiture of Duratherm and Reilly to be Completed by August 1

Pella Corporation, the industry’s leading window and door manufacturer, announces the divestiture of its two luxury businesses. As part of the company’s strategic planning process and routine evaluation of its industry position, Pella made the careful decision to sell Duratherm Window Company, LLC and Michael Reilly Design, LLC d/b/a Reilly Architectural. Transactions will be completed by August 1, 2024.  

After conducting an extensive search to select the right buyers that will set both companies up for continued success, Pella entered into the following agreements: 

• Duratherm is being purchased back by Tim Downing, who owned the company for over 30 years prior to the Pella acquisition and has continued to lead Duratherm through Pella’s tenure.
• Reilly is being purchased by Stately Doors& Windows; a luxury business based in Texas. Reilly and Stately are complementary businesses serving the luxury, custom market and together will expand their capabilities and geographic footprint. Stately is part of Kin Capital Partners, who owns several custom-building materials manufacturers and distributors. 

“While Pella has learned a lot about the luxury market over the last seven years, we have found that there are vast differences in our business models which prohibit us from gaining the synergy we need to deliver on our growth strategy,” said Tim Yaggi, CEO, Pella Corporation. “The divestiture of Duratherm and Reilly reflects Pella’s strategy to enhance our capabilities in the fastest growing geographies and channels, and focus on high margin, high growth product segments that can create scale.”

Throughout this transition, Pella’s priority remains the well-being of team members, customers, and stakeholders. Impacted team members include approximately 165 from Reilly and 60 from Duratherm. These team members will be offered support as they transition to new employment opportunities within these companies. Both Duratherm and Reilly are well-positioned within the luxury market to benefit from the new ownership that is committed to investing in their future growth and prosperity. 

Seale & Associates served as the exclusive investment banking advisor to Pella Corporation on the Reilly transaction.

For more information, visit: pella.com. 

About Pella Corporation

Pella has been creating a brighter future for its customers, communities, and team members since 1925. Recognized as an industry leader in innovation, Pella Corporation designs and manufactures windows and doors for residential homes and commercial applications. The company is headquartered in Pella, Iowa, and employs more than 10,000 team members across 20 manufacturing locations. Pella distributes its products through multiple channels and 250 showrooms across the country. For more information, visit www.pressroom.pella.com

Source: Pella Corporation