Windham castings acquired by mark w. Henry, CPA
Cinde W Ingram -- Casual Living, 5/1/2013 2:00:00 AM
Windham castings will continue to produce high quality cast aluminum furniture in Plains, Ga. now that Mark W. Henry has acquired its assets.
Henry became familiar with Windham Castings' quality level and potential while serving as the CFO for a potential investor. After the deal dissipated, Henry decided he believed in the company, liked the brand and loved the product enough to make a financial investment of his own.
"During due diligence, I really saw the opportunity in the marketplace," Henry said. "We have some high-profile contract clients such as Disney and Trump. We have a major Disney order in production right now to be installed at one of their resorts. Having marquis clients like that just syncs beautifully with the Windham brand."
Windham dealers described Windham's brand as the "best" in "good, better, best" discussions with Henry as he explored the home furnishings marketplace. In addition to its brand and high quality recognition, a third positive factor for Henry was Windham's position as a Made in the USA business.
"The company will continue to operate its foundry and factory in Plains, Ga., as it has from its start in 1997," said Debbie Young, Windham's founder and former owner.
"The company name will change slightly to Windham Enterprises, but nothing else really changes," she said. "We're going to be doing the same things in Plains that we always were."
Windham supplied specialty dealers through the years, and found sustained business through the design community and traditional furniture stores. Its diversification into the contract side of the industry was organic.
Windham faced financial problems in 2007-08 because "the economy crashed when we were a young, growing company with a lot of debt," Young said. "My goal was that the brand would continue because it's such a great product. And now that's going to happen and so mission accomplished. Now it's just onward and upward for Windham. I am really excited."
Henry recognized that the economic downturn had hurt the business at its price points, but also saw opportunities for the vertically integrated business in retail, contract and OEM manufacturing.
"We're going to walk before we run," Henry said. "We want to make sure that we're buttoned up from a production and manufacturing standpoint so we can fulfill the promises we make to customers. Establishing that credibility and that we are the Windham of old will be a key point we want to execute."
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