Parent Company Plans Sale of Vermont Castings Group

The Riverside Company, the parent of leading hearth and grill manufacturer Vermont Castings Group, has elected to exit its investment in the company and is seeking potential buyers.

“Vermont Castings Group is a stable and profitable company with an enviable portfolio of brands and products, a solid team and a strong growth strategy that requires additional investment,” said Dan Clifford, president and CEO of Vermont Castings Group. “We know that Vermont Castings Group is an attractive asset and we look forward to continued success in both the short and long terms.”

Riverside acquired the company, formerly known as Monessen Hearth Systems Company, in 2006.

“We have supported Vermont Castings Group through a difficult and protracted recession,” said Tim Gosline, partner at The Riverside Company. “With the company now on stable footing, and the economy strengthening, we believe now is the appropriate time to seek new investors.”

Vermont Castings Group has retained Huron Consulting Group as its financial advisor in connection with the transaction. The process will be conducted as quickly as possible, with a target completion of 60-90 days.