NEW YORK — Ideal Tridon Holdings Inc., a portfolio company of Snow Phipps Group, announced that it has completed the acquisition of ZSi-Foster Acquisition Corporation from Pfingsten Partners. Terms of the transaction were not disclosed.
The ZSi-Foster management team will continue to hold key positions within the combined company to further ensure that Ideal Tridon continues to meet and exceed the needs of its customers.
“We are extremely excited that ZSi-Foster is now part of the Ideal Tridon family,” said Michael Reese, CEO of Ideal Tridon. “Both Ideal and ZSi-Foster have long track records of providing highly engineered products and differentiated service to their customers. We expect to deepen our customer relationships with a more expansive product offering, delivered with the high level of quality and service they expect from us.”
“I am excited about the possibilities of this combination,” said Rick Stepien, CEO of ZSi-Foster. “We have been successful executing our growth strategy and fully expect that becoming part of Ideal Tridon will accelerate that growth.”
“We partnered with Ideal Tridon to support their growth strategy of expanding what they are able to do for their customers,” said John Pless, Partner at Snow Phipps. “The acquisition of ZSi-Foster is a transformational step forward in that process and will create many more opportunities for us to continue to grow organically and through M&A [mergers and acquisitions].”
Publication date: 7/9/2019