Jan 18 2011
GDIC Group, LLC, a Cleveland based private equity firm, announced today that it has acquired all of the operating assets of Patio Enclosures, Inc. through its subsidiary, GDIC Management Services, LLC. Patio Enclosures, Inc. is a leading manufacturer, retailer and distributor of sunrooms, solariums, patio and porch enclosures.
GDIC Management Services, LLC will continue to use the Patio Enclosures brand name, as the brand was one of the assets acquired under a previous secured lender arrangement.
Steve White, President of GDIC Group, said, “GDIC is an acronym for Great Day In Cleveland; and it is certainly appropriate today, as we were able to hire most all of the former Patio Enclosures, Inc. employees. With the strength of the Patio Enclosures brand and the investment GDIC is committed to making in people, infrastructure and advertising, we are excited about the significant growth opportunities ahead.”
Retail and manufacturing investments are a key focus and strength for GDIC Group, LLC. The firm focuses on acquisitions that include distressed privately-held companies with an established business in the marketplace.
Source: http://www.patioenc.com/