Maker of high-end windows and doors adds interior doors to its portfolio
In a purchase that strengthens its market position among the top 10 window and door manufacturers in the U.S., the Marvin Companies have taken 100 percent ownership of TruStile, maker of stile and rail doors for high-end residential and commercial projects.
Marvin has made several small-scale acqusitions in the past, but TruStile is its largest to date and expands Marvin’s portfolio beyond exterior windows and doors to interior doors. Marvin says that it plans to run TruStile as a standalone brand and separate entity within the Marvin group of companies. There are no planned changes to how TruStile serves its distribution network.
“For some time, Marvin has had a long-term strategy to expand beyond our existing product portfolio,” says Dan Marvin, vice-president of business development for The Marvin Companies. The TruStile brand is a “perfect fit for growth outside of exterior windows and doors,” Dan Marvin says, "and it targets the same customer and market segments as Marvin."
TruStile, which was founded 20 years ago, will remain in its Denver headquarters, its management intact. “TruStile has an outstanding leadership team that will allow us to run the business as a standalone within the Marvin Companies,” Marvin says. TruStile president and CEO Scott Schmid, who will continue to run TruStile, says, “We are very excited about becoming part of The Marvin Companies.” Along with Dan Marvin, he describes the acquisition as optimal for each partner regarding long-range vision. “Both companies share similar values and approaches to the market,” says Schmid, who points out that many residential projects that spec TruStile doors also feature Marvin windows.
Unlike many businesses, Marvin didn’t undergo layoffs during the most recent downturn. “We were very pleased to retain all of our employees through a very difficult recession,” Dan Marvin says. When the market started to improve, he says, the purchase became an attractive prospect because of TruStile’s size and management team, which would enable Marvin to run the company as a standalone. “Marvin will provide support,” Marvin says, “but we look forward to the TruStile management team leading the business for many years to come.”
The Marvin Companies, owned and operated by third- and fourth-generation family members, “have made the decision to remain a family company for generations to come,” Marvin says. “In order to be successful, we have to grow. And acquisitions like TruStile are one of several ways we will accomplish that.” PB