Syracuse Glass Co. (SGC) and Lineage Capital have formed a partnership to support the continued growth and performance of the 110-year-old fabricator. The Dwyer family will retain a significant ownership stake in SGC, and John Dwyer will continue to serve as CEO, president and chairman of the board of directors.
Dwyer says the move shouldn’t have a major impact on the company.
“Our new partner likes our performance record, our team and our plans for the future,” he says, adding that Lineage has assembled a group of consultants who are already helping the company conduct a thorough market survey and other things the company has been able to do previously.
Dwyer says he is not getting any younger, and notes that this partnership will allow for the start of a transition to take place over time.
“I am so proud of what our team has accomplished over the years, and I am excited by what our partnership with Lineage holds for the future,” says Dwyer. “Already, Lineage and its network of resources have evaluated our processes and made recommendations that will help us as we strive to be the best supplier to our customers, bar none! The core values and culture of SGC and Lineage are very closely aligned. I look forward to this next chapter in the SGC success story.”
SGC serves glazing contractors, manufacturers, home improvement contractors and glass retailers throughout Upstate New York and Eastern Pennsylvania. The company offers several custom fabricated products—tempered, laminated, insulating glass, shower enclosures, glass entrances and storefronts—as well as custom aluminum entrances and storefronts. SGC is headquartered in a 125,000-square-foot facility at the Salina Industrial Power Park in Syracuse, N.Y. It employs a staff of 105 and operates a fleet of specialized delivery vehicles.
Founded in 2003, Lineage is a Boston-based private equity firm that invests exclusively in owner-managed and family-controlled businesses in the middle market.