Skyline Windows' Market-Leading Position Attracts Minority Investment From Billion-Dollar Schueco International
Skyline Windows, a centenarian cornerstone of the New York City skyline and a leader in the American window industry, today announced a strategic investment from Schueco International, a $2B+ global expert in windows, doors and façade solutions headquartered in Germany. Under the terms of the deal, Schueco is obtaining a minority ownership stake in Skyline, fostering a dynamic exchange of technology and expertise. Skyline will become the exclusive distributor of Schueco's products in North America, integrating Schueco's innovative solutions into its own extensive projects business.
"With four generations and more than 150 years' worth of management experience, the Skyline team will apply their systems and processes on day one to lead our U.S. operations forward," said Andreas Engelhardt, CEO of Schueco International.
This investment represents a strategic advancement for Skyline, adding Schueco's innovative products to its lineup and establishing it as the exclusive distributor in North America. By leveraging its strong projects business and extensive network, Skyline aims to accelerate growth and expand its operations, enhancing its offerings for current and growing customer base.
"With a new robust product portfolio and the support of an industry powerhouse, we expect to double our revenue in five years," said Matthew Kraus, fourth-generation CEO of Skyline. "It took 100+ years to get to $100M in annualized revenue, but we're creating new revenue streams and will accelerate our path to $200M."
Skyline has been an instrumental part of iconic buildings such as Rockefeller Center, The Chrysler Building, and The New York Stock Exchange. Known for its commitment to quality and innovation, Skyline has maintained a strong presence in the market since 1921, contributing to standout projects that include One South First in Williamsburg, 1 Wall Street and 140 New Montgomery in San Francisco.
"Partnering with Schueco, a storied leader in sustainable technology and innovation, aligns perfectly with our vision for growth and excellence. We are poised to enhance our service offerings, expand our reach, and continue leading the industry towards a more sustainable future," Kraus added.
Engelhardt echoed Kraus' sentiments on the strategic significance of this partnership, stating, "Our investment in Skyline underscores Schueco's commitment to expanding our presence in the United States and driving innovation in the building industry. Skyline's rich market presence and expertise complement our advanced sustainable technologies, paving the way for significant revenue growth and transformative developments in the U.S. market."
The collaboration aims to set new standards in sustainability, energy efficiency, and architectural design, offering clients from high-profile projects to residential and commercial developments unparalleled quality and environmental stewardship. Both parties are committed to a seamless integration that upholds their shared standards of excellence and customer service, strategically aligning their values and capabilities to benefit clients and stakeholders alike.
About Skyline Windows
Skyline Windows, a centenarian cornerstone in the window industry, has been shaping the architectural aesthetics of significant buildings across the United States since its inception in New York, 1921. Originally founded as S. Kraus Inc., the company pivoted from roofing to windows under the vision of David Kraus in the 1950s and has since been under the continuous leadership of the Kraus family, now led by fourth-generation CEO Matthew Kraus. Known for its custom-designed windows, window wall system and terrace doors, Skyline has contributed to iconic structures and landmark preservation across New York City. Skyline Windows continues to innovate and maintain its status as a leader in the construction and design industry.
About Schueco International:
Based in Bielefeld, the Schueco Group develops and sells system solutions made of aluminum, steel and PVC-U for the building envelope. The product portfolio includes window, door, façade, ventilation, security and sun shading systems, as well as intelligent networked solutions for residential and commercial projects. Schueco also provides consultancy and digital solutions for all phases of a building project ? from the initial idea through to design, fabrication and installation, as well as after sales with maintenance and servicing. Fabrication machinery and customer-oriented service complement the product portfolio. As one of the leading companies in the construction industry, Schueco is committed through its products and services to being a pioneer for comprehensive sustainability and actively contributing to climate neutrality and the circular economy within the construction sector. Founded in 1951, Schueco is now active in more than 80 countries and achieved a turnover of 2.28 billion euros in 2022 with 6750 employees.
News published on and distributed by:
