JUNE 2019

GLASS UNDER TOP 50 FIRE IN NYC GLAZIERS WORKFORCE DEVELOPMENT GLASSBUILD SALES UP, AMERICA BUT SIGNS OF PREVIEW

OFFICIAL PUBLICATION SLOWING?

NATIONAL GLASS ASSOCIATION with GANA

GLASS.ORG TOP 50 GLAZIERS

ARCHITECTURAL WALL SYSTEMS - KRAUSE GATEWAY CENTER - DES MOINES, IOWA - PHOTO BY MICHEL DENANCÉ

36 GLASSMAGAZINE.COM BY NORAH DICK

The following report captures the current • market reality of the glazing industry. Glass 38. SALES Magazine’s annual Top 50 Glaziers program, - now in its 27th year, looks at the health of SALES UP, the glazing market by surveying top glazing BUT SIGNS OF companies about sales, bid levels, profit SLOWING? margins and staffing. Market statistics also provide benchmarks for levels of activity by • region, and by building segment. 44. MARKET For a list of the Top 50 glazing companies - serving the United States, ranked by sales COMMERCIAL volume, see pages 55-57. Projects from these CONSTRUCTION, companies are showcased throughout the NORTHEAST feature. In addition to the ranked List, the REGION, DRIVE report again includes our list of Glazier MARKET Partners, standout glazing companies nominated by their fabricator partners, found • on pages 56-57. 50. CHALLENGES - LABOR, SCHEDULING, TARIFFS • 54. COMPANIES - RANKED BY SALES, PLUS TOP GLAZIER PARTNERS

JUNE 2019 37 TOP 50 GLAZIERS - 2019 REPORT

SALES UP, BUT SIGNS OF 01-SALESSLOWING? The glazing market remained strong in The number of companies in the lowest sales 2018, with gross sales for Top 50 Glaziers at range of the Top 50—$20-$30 million—rose nearly $4 billion. A slight majority of Top from 12 companies in 2017 to 18 companies in 50 Glaziers—55 percent—reported year-over- 2018. year growth from 2017 to 2018. Eight Top 50 companies opened new locations or expanded The slowdown in growth among glaziers existing facilities. And expansions and new mirrors the trend in the overall construction locations meant new equipment for many economy in 2018. As reported in Glass companies. Magazine’s 2019 forecast in the January/ February issue, overall construction starts However, several survey data points indicate in dollars rose about 3 percent in 2018, the a slowdown in growth. While 55 percent of smallest increase in the last six years. Growth companies reported gains in 2018, the number in many construction categories slowed, is down from 67 percent in 2017 and 74 percent with a few exceptions, including multifamily in 2016. housing and commercial building, which remained at an increase of 2 percent for both Gross sales, while impressive at $3.8 billion 2017 and 2018. for all Top 50 companies, were down 12 percent compared to the previous year. Part of the decrease in gross sales appears to come from declining sales among the industry’s largest firms. Last year's No. 1 firm topped $600 million in sales; this year, the largest firm reported sales under $500 million. The number of companies reporting sales above $100 million fell from 12 in 2017 to nine in 2018.

38 GLASSMAGAZINE.COM 01 HOW DID TOP 50 GLAZIERS’ 2018 SALES COMPARE TO 2017? ABOUT THE SAME

4.3% QUOTED

“THIS MANY YEARS INTO AN ECONOMIC EXPANSION IT’S NORMAL TO THINK THE END IS AROUND THE CORNER. HOWEVER, RIGHT NOW LOWER HIGHER THE OUTLOOK REMAINS POSITIVE FOR THE 40.4% 55.3% NEXT 18-24 MONTHS. THE NUMBER OF NEW PROJECTS ON THE STREET OUT FOR BIDDING OR NEGOTIATION IS AS STRONG AS EVER.” —JEFF HABER, MANAGING PARTNER, W&W GLASS, WWGLASS.COM

02 YEAR-OVER-YEAR % CHANGE IN SALES FOR REPORTING COMPANIES, 2017-2018

150

120

90

60

30

0

-30

-60

JUNE 2019 39 TOP 50 GLAZIERS - 2019 REPORT 01 - SALES

03 TOP 50 GLAZIERS, GROUPED BY SALES CATEGORY (IN MILLIONS)

$100- $50- $200 $100

No. of Top 50 $400- $300- $200- Glaziers $500 $400 $300

01 02 01 05 10

QUOTED

04 NUMBER OF COMPANIES THAT OPENED “SINCE WE HAVE OR EXPANDED LOCATIONS A NEW SHOP FACILITY, WE HAVE PURCHASED A WATER JET MACHINE, SHEAR AND BRAKE, AND TABLE SAWS TO HELP US GROW OUR FABRICATION PROCESS.” — LARA NEDELTSCHEFF, MARKETING REPRESENTATIVE, LAFAYETTE METAL & GLASS CO., LMGNY.COM

40 GLASSMAGAZINE.COM $40- $30- $20- $50 $40 $30

08 05 18

05 TOP 50 GROSS SALES, 2009-2018 (IN MILLIONS)

10 YEAR HIGH $5,000 $4,300,000 $4,000

$3,000 10 YEAR LOW

$2,000 $1,806,000

$1,000

2009 2018

JUNE 2019 41 TOP 50 GLAZIERS - 2019 REPORT 01 - SALES

QUOTED

“WE SEE OUR MARKET CONTINUING TO BE STRONG IN 2019 AND INTO 2020, WITH A STRONG FOCUS ON DESIGN ASSIST/DESIGN BUILD PROJECTS. AS THE LARGE EXTERIOR PROJECTS START TO DECREASE, WE WILL SEE [AN] INCREASE IN INTERIOR TENANT IMPROVEMENT PROJECTS AS WELL AS [IN] HEALTHCARE AND INSTITUTIONAL PROJECTS.” — LAURA MCCAFFERTY, MARKETING MANAGER, GLASS SOLUTIONS INC., GSICHICAGO.COM

42 GLASSMAGAZINE.COM GIROUX GLASS - PECHANGA RESORT AND CASINO - TEMECULA, CA - PHOTO BY BRIAN PEREGRINA

JUNE 2019 43 TOP 50 GLAZIERS - 2019 REPORT

COMMERCIAL CONSTRUCTION, 02-MARKETNORTHEAST REGION, DRIVE MARKET

The bidding environment showed signs of mild improvement in 2018. About half of reporting Top 50 companies posted higher bid levels, with only about 5 percent reporting a decline. Competition remained steady as 59 percent of companies said levels were the same as the year prior. About a third of companies also reported an increase in profit margins, with another 62 percent reporting no change from last year. QUOTED New construction dominated work for Top 50 companies, with about 84 percent of jobs. Looking by sector, commercial projects “WITH A GREAT QUANTITY OF PROJECTS OUT accounted for 48 percent of work, with institutional at 21 percent and multifamily TO BID, THE CHALLENGE IS TO BE SELECTIVE at 15 percent. This marks a slight shift from AND SPEND OUR TIME ON THE ONES THAT 2017, when 45 percent of the market was commercial, 30 percent institutional and 20 ARE THE BEST FIT FOR OUR COMPANY. IN percent multifamily. 2018 WE REALLY FOCUSED ON ALIGNING In terms of geographic markets, the Northeast OURSELVES WITH THE RIGHT CONTRACTORS offers the most opportunity for growth, AND PROJECTS.” according to Top 50 companies. Nearly 50 percent of survey respondents identified the — JOHN CASHEL, PRESIDENT, ABOVE ALL STOREFRONTS, Northeast as having the most potential for ABOVEALLSTOREFRONTS.COM growth in 2019. The Southeast followed with 33 percent and the Southwest with 31 percent.

44 GLASSMAGAZINE.COM TOP 50 GLAZIERS - 2019 REPORT 02 - MARKET

01 MARKET CONDITIONS IN 2018 COMPARED TO 2017

BID LEVELS COMPETITION

HIGHER 34.1% ABOUT THE SAME HIGHER 45.2% 50% ABOUT THE SAME 58.5%

LOWER

LOWER 7.3% 4.8% PROFIT MARGINS

HIGHER 31% ABOUT THE SAME 61.9%

LOWER 7.1%

46 GLASSMAGAZINE.COM TOP 50 GLAZIERS - 2019 REPORT 02 - MARKET

02 NEW CONSTRUCTION VS. RENOVATION 03 WHICH GEOGRAPHIC MARKETS WILL SEE THE MOST GROWTH IN 2019?*

RENOVATION 16.5%

WEST 17.9%

NEW CONSTRUCTION 83.5%

04 2018 PROJECTS, BY CONSTRUCTION SECTOR

COMMERCIAL: OFFICE BUILDINGS COMMERCIAL: HOTELS 9.1% COMMERCIAL: RETAIL 5.4% INSTITUTIONAL: EDUCATION 13.6% INSTITUTIONAL: HEALTHCARE 13.1% INSTITUTIONAL: GOVERNMENT 5.5% MULTIFAMILY HOUSING* 14.9% TRANSPORTATION 2.2% *High-rise apartments, condos †Cultural and entertainment centers, sports OTHER† facilities, residential, tenant improvments, multi-use 3.1% buildings, museums, industrial projects

48 GLASSMAGAZINE.COM WHICH GEOGRAPHIC MARKETS WILL SEE THE MOST GROWTH IN 2019?*

NORTHEAST 48.7% MIDWEST 25.6%

SOUTHEAST SOUTHWEST 33.3% 30.8%

TOTAL COMMERCIAL

33.3%

TOTAL INSTITUTIONAL

20.7% 47.7%

*SELECT ALL THAT APPLY JUNE 2019 49 TOP 50 GLAZIERS - 2019 REPORT 03-THE

LABOR, SCHEDULING, TARIFFS AMONG TOP CHALLENGESCHALLENGES

For the sixth consecutive year, Top 50 Glaziers have identified labor as a top challenge. More than half of respondents—55 percent—reported increased difficulty finding workers year-over-year. Glaziers and field laborers are the most difficult QUOTED to find, according to 74 percent of respondents. About a third of companies add project managers to that list as well. “OUR BIGGEST CHALLENGE IN 2018 WAS FINDING EXPERIENCED GLAZIERS. WE HAVE BROADENED OUR Other top challenges identified by Top 50 companies included RECRUITING EFFORTS TO INCLUDE ENTRY-LEVEL managing project schedules—which CONSTRUCTION AND OTHER INDUSTRIES TO FIND is closely tied to labor concerns— lead times and ongoing trade TEAM MEMBERS WHO CAN LEARN A TRADE THROUGH uncertainties. OUR APPRENTICESHIP PROGRAM.” — ANDREA PLUNKETT, PROJECT MANAGER, JPI CORP., JPIGLASS.COM

50 GLASSMAGAZINE.COM 01 DID YOU HAVE MORE DIFFICULTY FINDING WORKERS IN 2018 COMPARED 74% TO THE PREVIOUS YEAR?

ABOUT THE SAME

31% YES 54.8%

NO 33.5% 14.3%

7.5% 7.5% 7.5%

GLAZIERS PROJECT ESTIMATORS OFFICE OTHER AND FIELD MANAGERS LABOR

02 IF YES, WHAT POSITIONS WERE THE MOST DIFFICULT TO FILL?*

*SELECT ALL THAT APPLY JUNE 2019 51 TOP 50 GLAZIERS - 2019 REPORT 03 - THE CHALLENGES

QUOTED

“OBSTACLES ARE ALWAYS POPPING UP, SUCH AS A LACK OF AVAILABLE MAN POWER, GOVERNMENT INTERVENTION WITH UNINTENDED CONSEQUENCES— TARIFFS AND MASSIVE QUOTED POTENTIAL CHANGES TO THE ENERGY AND TOP CHALLENGES BUILDING CODES—AND INCLUDE “MANAGING SUPPLY SHORTAGES.” SLIPPING PROJECT — JEFF HABER, MANAGING PARTNER, W&W GLASS, SCHEDULES, WWGLASS.COM [AND] ADJUSTING RESOURCES THROUGH MANUFACTURING AND FIELD INSTALLATIONS.” — DAN ROMINE, VICE PRESIDENT, ARCHITECTURAL GLASS & ALUMINUM, AGA-CA.COM

52 GLASSMAGAZINE.COM CRAWFORD TRACEY CORP. - 801 LINCOLN RD. - MIAMI BEACH, FL - PHOTO BY EMILIO COLLAVINO

JUNE 2019 53 TOP 50 GLAZIERS - 2019 REPORT 04-THE

FAMILY BUSINESSES AND ESTABLISHED COMPANIESCOMPANIES DOMINATE

The annual Top 50 Glaziers list, family businesses and women-owned Glass Magazine looked to industry beginning on the next page, companies. Half of Top 50 companies suppliers for recommendations. represents what Glass Magazine report they are family-owned; 14 As part of the 2018 Top Glass editors believe to be the largest companies have been family-owned Fabricators annual survey, contract glazing companies for two or more generations. Of those Glass Magazine asked leading serving the United States, based family-owned businesses, four are fabricators to nominate the on reported sales volumes. Glazing also woman-owned. exceptional glazing partners they firms are ranked within each sales worked with during the previous category. Information from 49 of Companies on the list also pay year. From those nominations, the Top 50 listed companies was tribute to both well-established Glass Magazine developed reported directly to Glass Magazine businesses and relatively new the 2019 Top Glazier Partners, editors from the companies’ survey ventures. The oldest company, recognized on pages 56 and 57. submissions, or from financial Binswanger Glass, binswangerglass. reports from publicly traded parent com, is 147 years old, founded in If your company belongs on the companies. In the instance that 1872. The newest, Ventana Design- list, or you would like to update companies decline to provide Build Systems, ventana.vc, opened its information, please contact information, we use independent in 2014. us. It is only with the cooperation sources to determine the most of individual companies that accurate ranking. While the Top 50 Glaziers list ranks Glass Magazine’s Top 50 Glaziers glazing companies by annual gross rankings can be as accurate as While reported gross sales can sales, Glass Magazine recognizes possible. Questions or comments demonstrate the current health of the that great companies come in all about this year’s rankings, and industry, this year, Glass Magazine sizes. In an effort to recognize requests to be included next also wanted to focus on the heritage stand-out glazing partners, no year, can be sent to Norah Dick at of top glazier companies, recognizing matter their annual sales volume, [email protected].

54 GLASSMAGAZINE.COM 01 2019 TOP 50 GLAZIERS, BY SALES (IN MILLIONS) 02 WHEN WERE TOP 50 GLAZIERS CURRENT PREVIOUS COMPANY U.S. FULL-TIME TOTAL OWNERSHIP ESTABLISHED? RANK RANK LOCATIONS EMPLOYEES EMPLOYEES

$400+ MILLION 1872 1899 1924 1 1 Permasteelisa North America 7 - - - permasteelisagroup.com, Windsor, CT 1926 $300-400 MILLION 1936 1946 (2) 2 2 Enclos Corp. 15 650 650 - 1949 enclos.com, Eagan, MN 1953 3 3 Benson Industries* 7 725 725 - 1956 bensonglobal.com, Portland, OR 1957 $200-300 MILLION 1958 1959 4 4 Harmon Inc. 17 598 599 - harmoninc.com, Bloomington, MN 1960 1970 $100-200 MILLION 1973 (2)

5 16 Gamma North America Inc. 7 486 486 - 1976 gammana.com, Concord, Ontario, Canada 1977 (3) 6 7 Crown Corr Inc. 4 300 300 • 1978 crowncorr.com, Gary, IN 1979 7 6 W&W Glass 1 175 175 • 1980 wwglass.com, Nanuet, NY 1982 (2) 8 5 Walters & Wolf* 7 - - - waltersandwolf.com, Fremont, CA 1983 1984 (4) 9 9 Binswanger Glass 61 869 892 - binswangerglass.com, Memphis, TN 1986 (2) $50-100 MILLION 1989 1990 (2) 10 17 Karas & Karas Glass Co. 2 90 147 - 1991 (2) karasglass.com, Boston 1992 (3) 11 11 Architectural Glass & Aluminum 2 300 300 - 1993 aga-ca.com, Livermore, CA 1998 12 21 Massey’s Plate Glass & Aluminum Inc. 3 - 330 - masseysglass.com, Branford, CT 1999 (2) 2005 13 14 seele Inc. 1 19 100 - seele.com, New York City 2006

14 18 Pioneer Cladding & Glazing Systems Inc. 6 308 308 - 2011 (2) pioneerglazing.com, Mason, OH 2014

• FAMILY-OWNED BUSINESS • WOMAN-OWNED BUSINESS *SALES RANGE BASED ON ESTIMATE JUNE 2019 55 TOP 50 GLAZIERS - 2019 REPORT 04 - THE COMPANIES

03 T O P CURRENT PREVIOUS COMPANY U.S. FULL-TIME TOTAL OWNERSHIP RANK RANK LOCATIONS EMPLOYEES EMPLOYEES GLAZIER PARTNERS** 15 23 Ventana Design-Build Systems 3 28 28 ventana.vc, Chicago ClearVue Glass & 16 19 TSI Corp. 1 210 210 • Mirror tsicorporations.com, Upper Marlboro, MD clearvueglassatlanta.com Marietta, GA 17 30 Architectural Wall Systems LLC 2 110 119 ClearVue Glass & Mirror archwall.com, Des Moines, IA “recently completed the Chick-Fil-A headquarters 18 22 RynoClad Technologies Inc. 2 98 98 • project that incorporated rynoclad.com, Ontario, CA multi-surfaced etched glass within the IGUs [on 19 15 Alliance Glazing Technologies 3 250 250 a] 3-story curtain wall. allianceglazing.com, Romeoville, IL ClearVue really stood out with their expert $40-50 MILLION project management, communications, and ability to glaze on such 20/21 24 Giroux Glass Inc. 4 88 201 a complicated and chal- girouxglass.com, Los Angeles lenging project.” —FGD Glass Solutions | On-Site 20/21 29 Above All Store Fronts 1 207 207 • Systems, fgdglass.com aboveallstorefronts.com, Hauppauge, NY

22 27 Admiral Glass Co. 3 295 295 Glastech Glazing • admiralglass.net, Houston Contractors glastech.ca 33 1 98 101 Port Coquitlam, BC, 23/24 Glass Solutions Inc. • Canada gsichicago.com, Itasca, IL “We have worked on 23/24 25 Haley-Greer Inc. 2 150 150 •• numerous projects with haleygreer.com, Dallas Glastech, including [Simon Fraser Univer- 25 36 Kensington Glass Arts 3 200 200 sity’s] SE3P Building. kensingtonglass.com, Ijamsville, MD They are always willing to take on unique and 26 Ranger Specialized Glass Inc. 2 130 130 challenging projects, • rangerglass.com, Houston creating custom designs and working closely with 27 37/38 Lafayette Metal and Glass Co. 2 120 120 us as the fabricator to •• lmgny.com, Hauppauge, NY ensure the design allows for the most streamlined fabrication processes $30-40 MILLION while providing high quality results that meet or exceed expectations.” 28 32 Egan Company/InterClad 4 100 100 —Vitrum Glass Group, eganco.com, Brooklyn Park, MN vitrum.ca 29/30 34 Cherry Hill Glass Co. 1 135 150 • **BASED ON NOMINATIONS cherryhillglass.com, Branford, CT FROM TOP GLASS FABRICATORS 29/30 28 Tower Glass Inc. 2 170 170 • towerglass.com, Santee, CA

31 45 Alexander Metals Inc. 1 93 93 • alexandermetalsinc.com, Nashville, TN

32 40 Dynamic Glass 3 165 165 dynamicglass.com, Houston

56 GLASSMAGAZINE.COM • FAMILY-OWNED BUSINESS • WOMAN-OWNED BUSINESS *SALES RANGE BASED ON ESTIMATE TOP 50 GLAZIERS - 2019 REPORT 04 - THE COMPANIES

CURRENT PREVIOUS COMPANY U.S. FULL-TIME TOTAL OWNERSHIP TOP GLAZIER RANK RANK LOCATIONS EMPLOYEES EMPLOYEES PARTNERS, CONT’D

$20-30 MILLION Glass Masters glassmasters.biz 33 26 Ajay Glass Co. 2 120 150 • Ketchum, ID ajayglass.com, Canandaigua, NY “Owner Steen Sorensen has created a niche 31 2 109 109 34 Crawford-Tracey Corp. • market specializing in crawfordtracey.com, Deerfield Beach, FL high-end second homes in the Sun Valley, Idaho, 35 42 1 110 150 Anderson Aluminum •• market. His ability to andersoncompanies.com, Columbus, OH include heavy low-iron glass and unique 36 Zephyr Aluminum LLC 3 80 80 features make Glass zephyraluminum.com, Lancaster, PA Masters stand out.” — TBM Inc., tbmglass.com 37 JPI Glass 1 104 104 • jpiglass.com, Kansas City, MO Glass Solutions 38 Koch Corp. (Strong Tower Construction) 1 47 88 • gsichicago.com kochcorporation.com, Louisville, KY Chicago “Glass Solutions, Chica- 39 41 Sunset Glazing 1 7 65 go, is exceptional. They sunsetglazing.com, La Mesa, CA excel and specialize in high-end interior 40 39 National Enclosure Co. 3 29 60 glass installation. We've nationalenclosure.com, Ypsilanti, MI worked with them over many years and 41/42 43 Vision Enclosure Walls Inc. 3 135 135 appreciate the quality vewus.com, Dallas of their work and their ability to meet our tight 41/42 SPS Corp. 2 85 85 • deadlines.” —Skyline spscorportion.com, Apex, NC Design, skydesign.com 43 Tepcoglass LLC 4 150 190 • Honorable tepcoglass.com, Dallas Mentions 44 Specified Systems Inc. 1 37 85 • MY SHOWER DOOR specifiedsystems.com, Canonsburg, PA myshowerdoor.com nominated by D3 Glass 45 50 R&R Window Contractors Inc. 1 74 76 • LLC, d3glass.com rrwindow.com, Easthampton, MA PERMASTEELISA NORTH 46 Wind Ready 1 80 80 AMERICA windready.com, Miami permasteelisagroup. com, nominated by Dun- 47 Momentum Glass 2 115 115 dy Glass & Mirror Corp., momentum-glass.com, Spring, TX dundyglass.com 48 46 Synergi LLC 2 53 56 • ADVANCED GLAZING synergillc.com, Hanover, MD CONTRACTORS advancedglazingcon- 49/50 AFI Glass & Architectural Metal Inc. 1 40 65 •• tractors.com, nominated afiglass.com, Poughkeepsie, NY by Glenny Glass Co., 49/50 Mass Merchandising 1 40 50 • glennyglass.com masmerch.com, Bohemia, NY

58 GLASSMAGAZINE.COM • FAMILY-OWNED BUSINESS • WOMAN-OWNED BUSINESS *SALES RANGE BASED ON ESTIMATE