NEW CANAAN, Conn. – Gridiron Capital LLC, a Dallas-based investment firm, completed Dec. 7 the sale of Essential Cabinetry Group to Breck Partners LLC and management. No financial terms were disclosed, reports the PE Group, which covers the private equity industry.
Simpsonville, S..C-based, Essential Cabinetry is a manufacturer of custom, semi-custom, and stock-plus kitchen and bathroom cabinetry that is sold primarily through the dealer channel. Essential is sold through a growing dealer network of more than 650 kitchen and bath dealers across the United States.
According to Dunn & Bradstreet, Essential Cabinetry Holdings Inc. has three major brands, Tedd Wood Fine Cabinetry, Executive Cabinetry, and Designers Choice Cabinetry Group, It has 117 employees across all of its locations, and generates $70.63 million in sales.
Gridiron’s original investment thesis was focused on teaming with a proven industry executive to build a leading kitchen and bathroom cabinetry manufacturer with world-class operations and a strong distribution network selling a full product line-up of cabinets.
During Gridiron Capital’s investment, the Company created the Essential Cabinetry Group with the original investment in Executive Cabinetry and later acquired Tedd Wood, a premier custom cabinetry manufacturer, and Designers Choice Cabinetry, a leading stock-plus wood cabinetry business.
“We have experienced great success through our partnership with Gridiron, who has helped us improve operational efficiencies, complete and integrate our acquisitions, bolster our team with additional resources, and help implement a shared culture of Winning Together throughout our organization, ” said Mark Kovich, CEO of Essential Cabinetry.
Have something to say? Share your thoughts with us in the comments below.