Fairway Building Products, a Mount Joy, Pennsylvania-based manufacturer of vinyl, aluminum and composite railing systems and distributor of ancillary building products, received an investment from Graycliff Partners.
The amount of the transaction was not disclosed. Graycliff invested subordinated debt and equity financing in support of the purchase of a controlling stake in the company by Argosy Private Equity.
Founded in 1997 by Dale Adams and Dennis Hazenstab, Fairway offers durable vinyl railing systems and lightweight aluminum and composite rail products and accessories primarily for residential decks. It sells its products through wholesale distributors and direct building material distributors to residential homebuilders and commercial contractors.
The company, which has an additional manufacturing location in York, Nebraska, intends to use the proceeds for future growth.