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FLEXSCREEN EXCEEDS PROFIT EXPECTATIONS FOR 2020

Shark Tank Winner, Joe Altieri, is Projected to Triple Company profits in Just Two Years, Shattering Industry Expectations with Backing from Lori Greiner
Key Takeaways
  • Flexscreen experienced a record-breaking quarter of revenue growth that has put the company one step closer to becoming a global leader in the market.
  • Led by Joe Altieri, winner of ‘Shark Tank’, the company is projected to triple in earnings by the end of 2021.
  • A recent equity partnership with 'Shark Tank' Entrepreneur and Investor, Lori Greiner brought along rapid-fire growth.

PITTSBURGH, PA, (December 16, 2020) Flexscreen, the company that set out to revolutionize the stagnant window industry, experienced a record-breaking quarter of revenue growth that has put the company one step closer to becoming a global leader in the market. Led by Joe Altieri, winner of ‘Shark Tank’, the company is projected to triple in earnings by the end of 2021, showing once and for all that his bet on smart and green innovation in the window industry was spot on. 

FlexScreen is innovative in its design, strength, and ease. With high-performance spring steel, damage-resistant frames, FlexScreen offers the most efficient and effective way to install window screens without attachment hardware, while eliminating bent aluminum, scratched paint, and broken hardware issues. 

With earnings of $400,000 in 2015, Flexscreen focused on revolutionizing the window market. The company bet on the rising need for innovation in the field. Within a year, earnings had quadrupled. Within 3 years, Flexscreen was recording yearly earnings of over $5.1 million. To ensure a continuation of the company’s rapid rise and really cement their name as leader in industry transformation, Altieri brought in help.

A recent equity partnership with 'Shark Tank' Entrepreneur and Investor, Lori Greiner brought along rapid-fire growth. This new investment sealed the deal and symbolized the dawn of modernization for the world of window screens, for Flexscreen that meant profits would more than double in just one year. 

The ongoing COVID-19 pandemic brought unprecedented challenges to businesses across the globe, Flexscreen was no different. With years of experience in the technological advancement of window ventilation, Flexscreen used this as an opportunity to play their role in aiding businesses as they need to pivot business structures and models to align with CDC guidelines. 

Revenue growth in earnings | A glimpse at financial health

  • 2019 - $6.7 million in earnings
  • 2020 - $11 million projection
  • 2021 - $20 million projection
  • 2022 - $37 million projection
  • 2023 - $65 million projection

“Our projected growth shows us that there is a desire for technological advancements in our market,” says Joe Altieri, President of Flexscreen. ““To understand our growth you have to get granular. Flexscreen is focused on the consumer first. The changes that needed to be made in our industry from how we ship to how you install were made with the client in mind. Our growth reflects that.”

Product Launch

Flexscreen revolutionized the way that window screens are shipped. Introducing FlexPacks™, the innovative way to ship your window screens, that uses ClearBox™ technology to ensure your screens arrive puncture-free. Resembling regular plastic, the latest product from Flexscreen allows for more protection from our factory to your job site. The material that is more durable than cardboard also results in minimal waste allowing for easy clean up. 

Key New Hire

Flexscreen welcomes Craig Neal to the team as Chief Operating Officer. Neal brings his years of experience leading global names in home goods to the window screen industry. Neal was instrumental in opening FlexScreen’s Detroit office and it is very exciting to have him bring his expertise to our corporate landscape.

Global Growth & Expansion 

Flexscreen opened a new plant in Toronto, Canada expanding the company’s global reach. The company also obtained patent in Hong Kong effective June 12, 2020.

Industry Recognition

2020 BIG Awards for Business: Small Business category, Product of the Year

2020 Edison Awards: Silver award-winning finalist in the “Consumer Goods, Home Solutions” category

Pittsburgh Smart 50 Honoree: Honored as top executive of the 50 smartest companies in the Greater Pittsburgh region for their ability to effectively build and lead successful organizations. 

Notable Partnerships

Flexscreen signs deal with celebrity investor: Flexscreen finalized an equity partnership with 'Shark Tank' Entrepreneur and Investor, Lori Greiner. Greiner brings decades of experience as an inventor, entrepreneur, ‘Shark Tank’ investor and "Queen of QVC”. 

Flexscreen partners with Saint-Gobain ADFORS: Flexscreen establishes a strategic partnership with Saint-Gobain ADFORS, leading international manufacturer of high-performance construction and industrial materials.

Customer Testimonials

“I’m a big fan of FlexScreen! When I look back on my 25 years in this industry there hasn’t been a lot of changes when it comes to product innovation, especially with screens. FlexScreen not only provides a solution to an existing problem with full screens, it also provides a unique selling feature. The product gives our dealers an opportunity to not only provide a better product, but an option that can be sold at a high value. When you can create value like FlexScreen has with their product, you can maximize revenue and profits…In the end, that’s what we are all here for. FlexScreen provides that and peace of mind that every remodeler and homeowner are looking for. It’s a perfect product with great marketing support...Congrats to Joe and his team for being innovators and creative in everything they do. I am not surprised at their success.”

-Dan Higey, PlyGem/Cornerstone Building Products

“FlexScreen allows us to offer an innovative screen solution for our vinyl windows by using an almost invisible frame. It’s our go-to screen.”

-Dan Birch, Product Manager | Harvey Windows

“We’re always looking for unique products that elevate our brand and give our customers a competitive advantage. FlexScreen fits that bill. It’s a unique differentiator that our customers can sell inside the home.”

-Josh Williard, Director of Products | MI Windows

"As 2020 created unprecedented obstacles for our Industry in general, it became clear to me that our customer base needed extra ammunition to offer their consumers. We made the decision to push further with our FlexScreen program. It has turned out to be a good decision for us. Packaging this screen package as standard on certain lines of products, was a win - win scenario for our customers and ourselves. With us having this relationship with Joe and their crew at FlexScreen since their beginning, our confidence level was high, that as a supplier and vendor, we could rely on what they told us. Great job by all. Thanks."

-Randy Overcash, VP Sales | Slocomb Windows and Doors 

"FlexScreen not only provides us at Wallside Windows with a great product that customers love, but the customer service and responsiveness to any issue is unrivaled among our largest suppliers. We have been a FlexScreen customer since 2016 and have achieved double-digit growth since then with the help of FlexScreen."

-Adam Blanck, Wallside Windows

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ABOUT FLEXSCREEN
Everyone knows that the century-old technology of traditional window screens is loaded with problems. Flimsy aluminum frames that damage easily, scratched paint, complicated hardware, and frustrating installation and removal are just some of the issues that required a solution. So, we cleared out a workspace in the garage and invented FlexScreen - the world's first and only flexible window screen. No aluminum, no paint, no hardware, and no hassle. Just flex our high-performance, PVC coated spring steel frame, slide it into the window screen pocket (where it will virtually disappear), and enjoy the uninterrupted view. FlexScreen is innovative, effortless, durable, and beautiful. Welcome to the future of window screens!

FlexScreen was the recipient of the Most Innovative Window Component in 2015 presented by Window & Door® magazine, and was a top 3 contender in the 2020 Edison Awards "Consumer Goods - Home Solutions" category, earning the Silver award. To learn more, visit www.flexscreen.com.

Media Contact: Lauren Gill, MAG PR | Lauren@mooringadvisorygroup.com

Key Takeaways
  • Flexscreen experienced a record-breaking quarter of revenue growth that has put the company one step closer to becoming a global leader in the market.
  • Led by Joe Altieri, winner of ‘Shark Tank’, the company is projected to triple in earnings by the end of 2021.
  • A recent equity partnership with 'Shark Tank' Entrepreneur and Investor, Lori Greiner brought along rapid-fire growth.
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Quotes
Our projected growth shows us that there is a desire for technological advancements in our market...To understand our growth you have to get granul...
Joe AltieriPresident of Flexscreen
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Joe Altieri
CEO & Founder
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lauren@mooringadvisorygroup.com
MAG PR
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