Platinum Equity today announced that it has entered into a definitive agreement to acquire The Cabinetworks Group (“Cabinetworks”) from American Industrial Partners, GIC and other equity holders.
Cabinetworks is the largest independently owned manufacturer and distributor of kitchen and bath cabinets in the United States under the nation’s leading brands, including: KraftMaid, Medallion, Smart, Merillat, Yorktowne, Echelon, Advanta, Studio Full Access, Master WoodCraft, and Cabinets 2000. The company produces both framed and frameless cabinetry, operating out of 14 assembly plants and three component facilities, and serves customers through a multi-channel approach including sales to dealers, home centers and distributors across the United States.
Jacob Kotzubei, a Partner at Platinum Equity, said: “Cabinetworks has a comprehensive portfolio of highly-respected, fast-growing brands, a strong leadership team and a proven track record for growth. The company’s leading position in the cabinets space, combined with Platinum Equity’s operational toolkit and M&A resources, make Cabinetworks a great fit for our portfolio.”
Source: WFMZ
By PR Newswire
