Golden Gate Capital has successfully completed its acquisition of Springs Window Fashions, the second largest provider of custom window covering products in the world, from Heartland Industrial Partners and interests of the Close Family.

BofA Merrill Lynch served as financial advisor to Golden Gate Capital on this transaction, and Kirkland & Ellis LLP served as Golden Gate Capital’s legal advisor. J.P. Morgan served as financial advisor to Springs. The Bond financing for the transaction was led by J.P. Morgan Securities and BofA Merrill Lynch, with GE Capital providing a new ABL facility.

Springs manufactures and sells custom and stock window coverings and drapery hardware to retail and commercial customers, as well as independent designers, franchisors and decorators. The company was founded in 1939 and has over 4,800 employees across nine facilities throughout North America.

Springs will remain headquartered in Middleton, Wisconsin, and its current management will continue to lead the company and have a minority ownership position.

Headquartered in Middleton, Wisconsin, Springs is the second-largest global manufacturer and distributor of window coverings. With its highly recognized Bali and Graber brands, the company is a leader in combining interior comfort, energy efficiency, convenience and design.

Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $12 billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses.