Houlihan Lokey Advises Window Nation

Houlihan Lokey is pleased to announce that Window Nation, a portfolio company of Cortec Group, has been acquired by AEA Investors LP. The transaction closed on July 16, 2021.

Founded in 2006, Window Nation is one of the leading direct-to-consumer providers of replacement windows and exterior doors serving the residential repair and remodeling markets. The company generates sales leads through a proprietary direct-to-consumer, multichannel advertising strategy and converts leads into sales through its direct salesforce. In partnership with Cortec, Window Nation expanded into 10 new markets while optimizing lead generation through enhanced marketing, growing its direct salesforce and introducing new sales strategies. Today, Window Nation operates in 15 markets across the Mid-Atlantic, Midwest, Northeast, and Southeast regions of the U.S. and has established itself as a clear leader in the U.S. window replacement market.

Based in New York, New York, and founded in 1984, Cortec invests in market-leading, middle-market specialty consumer, distribution, and healthcare services and products businesses in partnership with entrepreneurs, families, and management teams who want to work with Cortec to drive growth and improve business fundamentals.

Founded in 1968, AEA Investors LP is a leading global investment firm with over $15 billion of assets under management, focused on private equity and debt investments in the middle market. AEA employs approximately 100 investment professionals and operates globally with offices in New York, Connecticut, San Francisco, London, Munich, and Shanghai.

Houlihan Lokey served as the lead financial advisor to Window Nation and assisted in initiating, structuring, and negotiating the transaction on its behalf.

This transaction highlights Houlihan Lokey’s continued success in advising market-leading, direct-to-consumer specialty distribution and building products businesses in the growing home services market and delivering superior client service with outstanding results.