Monett-based EFCO sells to Pella Corp.

On Aug. 28, the $250 million windows manufacturer sold to Iowa-based Pella Corp. in a deal that takes Pella into the commercial window business. The sale price between the two privately owned companies was undisclosed, though outgoing CEO Chris Fuldner confirmed it was more than $90 million.

Pella will keep EFCO’s 1,600 employees in Monett and will continue to sell products under the EFCO brand.

Pella has about 10,000 employees and more than a dozen manufacturing facilities throughout the United States, and it primarily deals in wood- and fiberglass-based residential windows. Meanwhile, EFCO makes aluminum-based windows, curtain walls and storefront and entrance systems exclusively for commercial use.

“This represents a new venture in the aluminum industry in serving commercial customers,” said Pella spokeswoman Kathy Krafka Harkema. “This marriage of two strong, family-owned companies is so exciting.”

Pella Chairman Charles Farver is the grandson of Pete Kuyper, who founded Pella 82 years ago. Pella CEO Mel Haught is not related, but the Kuyper/Farver family maintains ownership.

EFCO was founded by Terry Fuldner and George Eberle in 1953 in St. Louis. It moved to Monett in 1957, and Fuldner bought out Eberle in 1964. It had been owned and operated by Terry Fuldner and his son, Chris, until the sale. Sandra Coffman, Terry’s daughter, served on the board of directors for about 15 years.

A family’s legacy

“It wasn’t fun for me anymore,” said Chris Fuldner, whose desire to retire at 56 prompted him to put EFCO on the sales block. Serious negotiations with Pella began in April after multiple unnamed companies were initially contacted, he said.

“Maybe it’s time for some younger guys to get in there with more energy and new ideas, and let them have at it,” he said.

Chris Fuldner joined his father full time at EFCO in 1973, became president in 1986 and took over as CEO and chairman in 1999 when Terry Fuldner, now 79, retired.

Chris Fuldner said selling to Pella was a good fit for three reasons: Both Pella and EFCO are Midwest-based companies with shared values; Pella offered an attractive purchase price; and Pella was committed to maintaining EFCO’s operations, including its national network of independent sales representatives.

Founder Terry Fuldner said Pella is smart to take advantage of EFCO’s reputation, established sales network and experience in commercial manufacturing.

“They’re a residential window builder, and they’ve got a lot to learn, I’m sure, about the commercial window business,” he said.

Even with Terry and Chris Fuldner retired, the younger generation of the Fuldner family still works for EFCO. Chris Fuldner’s daughter and son-in-law, Kerry and Cory Watts, work as sales representative and director of national accounts, respectively. Chris Fuldner’s son, Scott Fuldner, is an hourly employee in EFCO’s research lab, and his son-in-law, Josh Rudd, is purchasing manager.

Meanwhile, Chris Fuldner will split time between homes in Las Vegas and Monett, and may move to Springfield and start a small business after some time off.

“I’ve got a fascination with aviation, so maybe something there,” he said.

Top company

At the Monett plant, two longtime EFCO executives – Mark Kaiser in sales and customer service and Rob Jones in manufacturing – will guide the ship until a new captain is in place.

Based on EFCO’s sales growth, Pella doesn’t have any reason to rock the boat. In 1980, EFCO sales were $12 million. In 1999, sales were $175 million. And last year, sales reached $250 million, according to Chris Fuldner.

EFCO windows are installed in hundreds of prominent buildings nationally, including a half-dozen of Donald Trump’s buildings in New York City, he said.

Suzy McElmurry, executive director of Monett Chamber of Commerce, said EFCO’s stability is important to Monett, a town of 7,400. With its 1,600 employees, EFCO is Monett’s top employer, next to banking software company Jack Henry & Associates’ 1,100 employees. No. 3 in Monett’s work force of 14,000 is Springdale, Ark.-based Tyson Foods’ more than 800 employees, McElmurry said.

Harkema said Pella plans to expand EFCO operations, though she wouldn’t share company plans. She also wouldn’t disclose Pella’s revenues or information about other subsidiary companies.

Pella’s manufacturing facilities are in the Iowa towns of Pella, Carroll, Shenandoah, Sioux Center and Story City; Columbia, S.C.; Fairfield, Ohio; Gettysburg, Pa.; Macomb, Ill.; Murray, Ky.; Portland, Ore.; Tucson, Ariz.; and Wylie, Texas.[[In-content Ad]]