An investor group led by The Courtney Group has acquired a controlling interest in San Jose, Calif.-based CE Pro 100 company A Shade Above, an affiliate of Peninsulators Inc., a commercial integration firm with locations in San Jose and Seattle. Terms were not disclosed.
A Shade Above is a full service smart home integration company offering shades, AV and automation. It is the No. 68 company on the 2020 CE Pro 100 list, with just under $4.8 million in revenue in 2019. The company performed 27 residential installations last year and has 19 employees.
Based in San Jose, Peninsulators focuses on the sale and installation of commercial window coverings, and provides engineering, design, and maintenance services. Founded in 1985, Peninsulators has long served many of the leading technology companies in Silicon Valley, and expanded to serve these companies in Seattle, Wash. In total, the three locations employ 80 people. Peninsulators is known for providing solutions within the office, healthcare, hospitality, education, and public sectors. In the healthcare sector, the company installs both manual and automated window coverings, as well as privacy curtains for hospitals and clinics.
Partners Tom Courtney, Alan Macksey and Ed McKenna, PhD of The Courtney Group led the transaction and will assist the company in establishing and executing its strategic growth plan. Other investors include Lake Country Capital, a debt and equity provider based in Minneapolis and Los Angeles.
Co-founder and CEO Ross Haisley, along with co-founder and COO John Thomas, will maintain an ownership stake and will continue in their full-time management roles.
“We are very pleased to have partnered with The Courtney Group and are excited about what Tom, Alan, and Ed bring to the table. Their experience in backing founder-owned businesses and their expertise in strategic acquisitions, geographic expansion, and technology will be invaluable as we seek the next level of success,” says Haisley.
Thomas adds, “We founded Peninsulators 35 years ago in a garage, but, from the very beginning, have enjoyed a reputation for excellent work and attention to detail. We intend to maintain and build on that foundation as we work with The Courtney Group to pursue some ambitious new strategic growth initiatives.”
Courtney notes, “Peninsulators is an outstanding company with proven leadership. We are looking forward to a strong partnership, and we have identified many exciting opportunities for growth.”
Courtney, founder of The Courtney Group, has invested in or served as an advisor to many companies, including American Piping Products. McKenna was previously chief scientist and engineer at Covidien, where he was responsible for the development of innovative, technology-driven products. Macksey has extensive experience in acquiring and growing middle market companies, including those in the business services, healthcare, and contracting sectors.
Terms of the transaction were not disclosed.