Rainier Industries Acquires Eclipse Shading Systems
NASHVILLE, TN – December 15, 2022 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today that portfolio company Rainier Industries (“Rainier”) has completed its acquisition of Eclipse Shading Systems (“Eclipse”). Financial terms of the transaction were not disclosed.
Rainier is a leading manufacturer of residential and commercial shade, shelter, and display solutions, including power screens, retractable awnings, commercial tents, retail displays, and branded environments. The company’s shade products are sold through a nationwide dealer network. Rainier traces its roots to 1896 when it started producing tents for prospectors traveling north to Alaska during the Klondike Gold Rush. Rainier is headquartered in Tukwila, Washington with a second manufacturing facility in Statesville, North Carolina. Rainier has been a portfolio company of LFM since October 2021.
Based in Middletown, New York, Eclipse also manufactures screen and awning products, including retractable awnings, interior and exterior solar shades, and accessories sold to dealers throughout the United States.
John Dearden, Co-Founder and Managing Partner of Eclipse, said, “The combination of Rainier and Eclipse will help us optimize production processes on the East Coast, expand overall dealer reach, and continue to bring the highest quality products to market. We look forward to joining forces with one of our most admired competitors to drive high quality and incredible value for homeowners nationwide.”
Rainier CEO, Chris Inverso, commented, “We are thrilled about the integration of the Eclipse and Rainier shade businesses. This acquisition will strengthen the reach of our shade products to create a leading, next-generation solution for the marketplace.”
LFM Managing Director, Chris Lin, noted, “This acquisition joins leading and complementary players in the luxury shade market. We are excited to work alongside Chris and the management team at Eclipse to help the newly combined company achieve its full growth potential.”
Bass, Berry & Sims served as legal counsel and LBMC, PC, served as financial advisor to Rainier on the transaction. The Sack Law Firm served as legal counsel and Romanzo & Co., CPAs served as the financial and sell-side advisor to Eclipse.
About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies. For additional information, please visit www.lfmcapital.com.
About Rainier Industries
Founded in 1896, Rainier Industries (originally named Puget Sound Tent and Duck) built canvas tents for prospectors headed to Alaska for the Klondike Gold Rush. The company expanded into manufacturing awnings and in 1992, changed its name to Rainier Industries.
Currently, Rainier is composed of three divisions, including Display, Shade and Shelter, and makes a variety of products that improve lives and lifestyles. From wall tents, yurts and cottages to retractable power screens and awnings, branded environments and experiential marketing elements, commercial tents and industrial products, Rainier uses visionary creativity, unique engineering and precision manufacturing to make leading Display, Shade and Shelter products on the market. For more information, please visit www.rainier.com.
About Eclipse Shading Systems
Eclipse manufactures custom screen and awning products, including retractable awnings, interior and exterior solar shades, and accessories that are sold to dealers throughout the United States. Eclipse is headquartered in Middletown, New York, and has additional warehouse facilities, also in Middletown.