Altus Capital Partners Closes Sale of Thermafiber, Inc. to Owens Corning

  Altus Capital Partners Closes Sale of Thermafiber, Inc. to Owens Corning

 Deal reflects Altus’ continued investment focus on U.S.-based manufacturing
                    companies with proprietary technology

Business Wire

WILTON, Conn. -- June 3, 2013

Altus Capital Partners, Inc.(“Altus”),a private equity investment firm
focused on nichemiddle market manufacturingcompanies in the U.S., today
announced the closing of the sale ofThermafiber, Inc., a leading producer of
mineral wool insulation products for commercial, industrial and horticultural
applications, to Owens Corning (NYSE: OC), a leading global producer of
residential and commercial building materials, glass-fiber reinforcements and
engineered materials for composite systems. Thermafiber’s products are used in
a wide variety of applications requiring thermal, acoustic and fire safety

Thermafiber, based in Wabash, Indiana and founded in 1934, is part of Altus’
first fund, Altus Capital Partners, L.P., which launched in 2004. This is the
third sale of an Altus portfolio company in the past two years. Details of the
transaction were not disclosed.

Altusacquired Thermafiber in 2007, along with members of senior management
and other investors. During its ownership, Altus supported management in
evaluating and executing various growth initiatives.

Greg Greenberg, Co-Founder and Senior Partner, Altus Capital Partners, said,
“Thermafiber’s exceptional management team and employees, led by Steve Edris
in conjunction with Altus’ support, focused on overall margin improvements,
gains in market share and successfully developing and bringing new product
offerings to the market. As a result, Steve and his team were effective in
strengthening Thermafiber’s leadership position in the industry.”

Thermafiber President and CEO Steve Edris said, “We thank Greg and the Altus
team for the time we spent together on this investment and we look forward to
working with Owens Corning and applying their expertise to benefit customers
who pursue mineral wool insulation applications.”

Sale of the transaction was represented by BB&T Capital Markets.

About Altus Capital Partners

Headquartered in Wilton, CT with offices in Lincolnshire, IL, Altus Capital
Partners invests alongside management in profitable small to medium-sized
manufacturing companies domiciled in the U.S. that have proprietary
technologies, processes and products. The Altus investment team is led by
three partners, who, in 17 years of investing together, have acquired 24
platform companies. For more information on Altus, please visit


For Altus Capital Partners
Laura Brophy, 203-331-7618
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