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Exchange Income Corp
Symbol EIF
Shares Issued 32,380,482
Close 2019-10-17 C$ 38.11
Recent Sedar Documents

Exchange Income completes Advanced Window acquisition

2019-10-17 15:21 ET - News Release

Mr. Mike Pyle reports

EXCHANGE INCOME CORPORATION COMPLETES ACQUISITION OF ADVANCED WINDOW, INC.

Exchange Income Corp. has completed the acquisition of Advanced Window Inc. (AWI). The acquisition was first announced on Oct. 8, 2019.

Founded in 1994, AWI is a full-service glazing company specializing in sales, consultation, design, engineering, installation and service of preglazed fenestration products. AWI's operational focus is the northeastern United States, specifically the mid-Atlantic region comprising New York, Pennsylvania, Maryland, Washington, D.C., and Virginia.

"We are very excited about the acquisition of AWI," stated Martin Cash, the chief executive officer of Quest Windows, a subsidiary of Exchange Income. "Quest began working with AWI in 2013 and we have experienced first-hand the professionalism and the value they provide as a leader in the market. Partnering with Jason and his great team at AWI will enable Quest to provide the best value and comprehensive offering to our customers. Furthermore, the acquisition of AWI will continue our trajectory in the U.S. market as we continue to build our sales channels and overall product offering. We are excited about this next phase with AWI."

Jason Glatt, the owner and chief executive officer of AWI, has committed to continue in his current role. In explaining the decision to sell to EIC, Mr. Glatt stated: "We knew we had a great partner in Quest and wanted to solidify our relationship. Over the last five years, we have experienced tremendous growth as we brought the Quest product to our customers. This transaction will ensure we can continue that success and strengthen the company's long-term future. I'm excited to lead this next phase of growth for AWI and am confident that it is the right decision for our company, our employees and our customers."

About Exchange Income Corp.

Exchange Income is a diversified acquisition-oriented company, focused in two sectors: 1) aerospace and aviation services and equipment and 2) manufacturing. The corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.

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