The management of Virginia Mirror Company and Virginia Glass Products has partnered with
Gemini Investors to recapitalize the company. Gemini is a private equity firm focused on making investments in growing middle-market companies led by strong management teams.
The entire leadership at VMC and VGP will remain in place, and Gemini will continue to support the company’s growth strategy.
The recapitalization allowed the founding family to transition ownership of the company to the management team and an investment group with a long, successful track record of growing private middle-market businesses in partnership with the management team.
“Our intent is for it to be invisible to our customers and our vendors,” said John Korff, President, and CEO of Virginia Mirror Company and Virginia Glass Products. “The biggest change is the ownership.”
VMC is entering its 110th year in the mirror business, while VGP continues to be a leader in the tempered, laminated, and all-glass entry space.
“We intend to continue growing” the two companies, which together have a total of 180 full-time employees, Korff said.
“I am thrilled that we have found an excellent partner in Gemini Investors. They understand our culture, approach, and respect the glass, and mirror industry. We look forward to growing our offerings and footprint in partnership with them, our customers, and suppliers in the years ahead,” Korff said.
“We couldn’t be more excited to partner with the team at Virginia Mirror Company and Virginia Glass Products,” said Michelle Kornack, Vice President of Gemini Investors. “The team has built great franchises and partnerships by delivering best-in-class products and service to their customers. We look forward to supporting the continued growth of the company in the years ahead.”
Founded in 1913, Virginia Mirror Company began as a producer of mirrors for furniture manufacturers in Virginia and North Carolina. Gradually VMC shifted focus to fabricated and stock sheet mirrors for residential and commercial construction. After several plant expansions and installing a five-hundred-foot long, state-of-the-art silvering line, VMC is the industry standard bearer for high-quality mirror products.
Virginia Glass Products Corporation, founded in 1956, is a leading manufacturer of architectural tempered glass, custom laminated glass, all-glass entrance doors, and more. In the last few years, VGP has made several best-in-class upgrades to its fabrication facility with a new tempering furnace, laminating line, and fabrication centers. In addition, both businesses have made significant upgrades to their trucking fleets, to ensure they meet all their customer’s needs. Founded in 1993, Gemini Investors is a private equity investor in middle-market private companies. Since its inception, the firm has invested more than $700 million in over 170 companies throughout the U.S. Currently investing in its seventh institutional equity fund, the firm seeks to partner with established businesses and experienced management teams that have strong operating histories and significant growth potential.
The terms of the transaction were not disclosed.