EVERETT — A private equity group has announced that it has purchased Quantum Doors &Windows, an Everett-based manufacturer that makes custom wooden features for homes across the country.
Swiftsure Capital of Seattle hopes to expand the business to meet anticipated demand, said Jeff Klein, who has been appointed CEO of Quantum.
“What we saw is an opportunity to take this great brand, these great products and this great name and do something more with it,” Klein said.
Quantum Doors &Windows at 2720 34th St., Everett, also expects to add more workers. Klein didn’t say how many would be added, but he said the company has seen a 40-percent increase in sales in the past year.
“We expect we’re going to need a lot more craftsmen and a lot more support personnel,” he said.
He said the purchase will not affect the day-to-day operations of the business. Melissa Benton, who was appointed president last year, will retain her position. Klein said he’s just joining the team.
Quantum also will remain in Everett, said Klein, who lives near Federal Way and plans to stay there until his daughter graduates from high school.
“At some point, we’ll need a larger facility, but for now, we’re staying right where we are,” Klein said.
To fund the purchase, Swiftsure Capital joined with Nitze-Stagen Capital Partners, another Seattle area group. Klein declined to disclose the sales price.
Quantum was founded in 1982 in a barn in Snohomish County by general contractors who were dissatisfied with mass produced windows available at the time.
The company grew rapidly and now ships custom doors and windows across the country. Quantum has showrooms in Washington, California, British Columbia and Connecticut. Pendulum Investment in Redmond had owned Quantum Doors &Windows for about a decade before selling to Swiftsure Capital.
“There are a number of well-managed Northwest companies, like Quantum, that are seeking a change of ownership for generational transition issues or otherwise,” said Gordon Gardiner, Swiftsure Capital’s managing partner, said in a statement. “Swiftsure’s goal is to find those companies and help them realize their full growth potential.”
Klein has spent 25 years in the window manufacturing business. He previously worked as senior vice president of Ply Gem Industries and president of several window companies owned by Ply Gem. He also worked for Milgard Manufacturing, which was sold in 2001 Masco Corporation.
He said Quantum has developed a top reputation around the country. He said that high-end products produced by Quantum are in demand residentially, commercially and for historical preservation projects.
“There’s a certain niche of consumers that really like the warmth and feel of wood and that really hasn’t changed over time,” Klein said.