Cristacurva to take majority ownership position in Craftsman

February 3, 2010
COMMERCIAL, RETAIL, FABRICATION

Industry veterans Bob Lawrence and Francisco Sanchez announced that they have signed an agreement for Glass Wholesalers Inc., d/b/a Craftsman Fabricated Glass, Houston, to receive a significant investment from Cristacurva, Guadalajara, Mexico, according to a Feb. 2 release. The new investment will allow Cristacurva to take a majority ownership position in Craftsman, while allowing Lawrence to remain as minority shareholder and as a senior member of management.

The planned investment will bring together two existing glass fabrication companies with complementary production and customer services. The investment by Cristacurva allows Lawrence to conclude a refinancing plan that has been a major diversion of his time for more than one year.

Francisco Sanchez, CEO of Cristacurva, expects to conclude his investment during the next 90 days. Sanchez believes the close alignment of Craftsman with Cristacurva provides a major opportunity for both companies to better serve southeast Texas and beyond, benefiting
customers as well as suppliers and employees, according to the release.