Soft-Lite Gorell News Releases
SOFT-LITE LLC ACQUIRING ASSETS OF GORELL WINDOWS & DOORS, LLC
Indiana, PA, February 15, 2012—Soft-Lite LLC, based in Streetsboro, OH, announced today that it intends to acquire the product lines of Gorell Windows & Doors, LLC, located in Indiana, PA. Gorell entered receivership last week with The Meridian Group, a Pittsburgh-based turnaround firm, being the appointed Receiver. Soft-Lite reached an agreement in principle today, whereby Soft-Lite will acquire the assets of Gorell. The Receiver will address creditors' claims of Gorell.
"We are very excited about this acquisition and what it means for our company," said Roy Anderson, President of Soft-Lite. "It will allow Soft-Lite to expand its operations to better service our existing customers, to further grow our network of dealers and distributors, and to offer a broader range of products and sales tools to our customers."
Anderson noted that Soft-Lite is excited to begin working with Gorell's dealers and distributors and looks forward to forming a lasting business relationship with all of these parties. While Soft-Lite is only purchasing the assets relating to the product lines from the Receiver, it is nevertheless looking forward to establishing new relations with Gorell's prior suppliers.
After the closing, Soft-Lite will be offering the same warranty on the Gorell products it manufactures and sells and is committed to working on any warranty obligations that belong to Gorell with previous Gorell customers that continue to support our Gorell products.
Margaret Good of The Meridian Group stated, "It is a testament to the quality of Gorell's product, brand and employees that we were able to find a buyer as quickly as we did. When combined with Soft-Lite's stellar reputation in the industry, we believe this transaction is the best possible result, given the difficult situation at hand."
Soft-Lite is a vinyl replacement window and door manufacturer headquartered in Streetsboro, Ohio. The company is a five-time winner of Window & Door magazine's "Crystal Achievement Award" and has also received recognition as one of the magazine's "Top 100 Manufacturers" every year in existence. Soft-Lite is also a recipient of the Friedman Corporation "Customer Appreciation Award" and Door and Window's "Companies to Watch" recognition. For more information, visit www.soft-lite.com.
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