Alden Industries, Inc. Fund: II Investment Date: May 1997 Exit Date: November 2004 Headquarters: Forth Worth, Texas
Alden Industries, Inc. (“Alden”), is a leading manufacturer of commercial water heaters as well as multi-fuel burners. Alden serves the North American commercial and institutional water heater markets through three operating subsidiaries: PVI Industries, LLC, Webster Engineering and Manufacturing Co., and Riverside Hydronics, LLC. The Company maintains manufacturing facilities in Fort Worth, Texas and Winfield, Kansas.
Merit provided subordinated debt to finance the recapitalization.