Seven Point Equity Partners Acquires RiteScreen
Seven Point Equity Partners, LLC, a leading investment firm in the building materials sector, has acquired The RiteScreen Company from J.T. Walker Industries, creating the largest standalone supplier of fabricated screens for North American window, door and commercial ventilation markets. RiteScreen will continue to be headquartered in Elizabethville, PA. Seven Point Operating Partner, Randy Iles, who is also former president of Pella Corporation’s Entry Systems Division and former CEO of Andersen Corporation’s Silver Line business unit, has joined RiteScreen as CEO and will serve on the board of directors.
“We knew it was time to turn over the reins of RiteScreen to new ownership to direct the next phases of investment and growth, but there is a lot of emotion for everyone involved with RiteScreen since J.T. Walker founded the business in 1947,” says Jay Poppleton, President of J.T. Walker. “So we are delighted to have found the Seven Point team. Their resources, long-term vision and respect for the RiteScreen people, coupled with the unique industry knowledge and expertise that Randy Iles brings, made them an ideal successor. We really feel J.T. Walker’s legacy, the RiteScreen team, and RiteScreen’s customers are in the very best hands.”