GHK Capital Partners Completes Acquisition of Dura Supreme Cabinetry
GREENWICH, Conn., October 17, 2019 (Newswire.com) - GHK Capital Partners ("GHK"), a Greenwich, Connecticut based private equity firm pursuing control investments within the industrials sector, announced today that it completed the acquisition of Dura Supreme Cabinetry (Dura-Supreme, LLC) (the "Company" or "Dura Supreme") from the second-generation founding family. Dura Supreme is a vertically integrated manufacturer of premium semi-custom and custom cabinetry, distributed to end-customers through a nationwide network of third-party dealers. Terms of the acquisition were not disclosed.
GHK's acquisition of Dura Supreme will enable the Company to build upon its exceptional operating platform and accelerate its strategic growth plans in new markets across the U.S.
"We are extremely pleased to partner with the Dura Supreme team to build upon the Company's highly-regarded cabinetry brand and 60-year heritage serving designers and homeowners with premium cabinetry," said Gil Klemann, Managing Partner of GHK.
"GHK brings operational expertise and capital strength to this partnership, establishing a valuable strategic platform to accelerate our growth and our ability to create innovative and highly desired premium cabinetry for our customers. We are excited about the potential this new business partnership fosters," commented Perry Fails, Dura Supreme President and COO. "With Dura Supreme's portfolio of semi-custom to custom cabinetry in framed and frameless construction, the partnership with GHK strengthens Dura Supreme's competitive advantages and our ability to pivot quickly in meeting the needs of our customers and dealers."
As part of the transaction, Tony Sugalski, a seasoned executive leader with prior experience serving the residential end market and the dealer channel, has joined the Company as Chief Executive Officer. In addition, Perry Fails has been named President, together with his current role as Chief Operating Officer of the Company. All key senior executives are remaining with the Company going forward.
The sellers were advised by Harris Williams & Co. and were represented by Moss & Barnett LLC. GHK was represented by Day Pitney LLP.
About Dura Supreme Cabinetry
Located in Howard Lake, Minnesota, Dura Supreme is a second-generation, family-owned company that manufactures semi-custom and custom, framed and frameless cabinetry for a nationwide network of dealers. For 60+ years homeowners and designers have looked to Dura Supreme for kitchen and bath cabinetry noted for personalized design choices and outstanding quality of construction. To learn more about Dura Supreme or to contact an authorized Dura Supreme cabinetry dealer visit www.durasupreme.com.
About GHK Capital Partners LP
GHK Capital Partners, based in Greenwich, Connecticut, is a private equity firm pursuing investments in the industrials sector. GHK targets businesses with $15 to $40 million of EBITDA and attractive free cash flow where it can identify multiple avenues for growth. GHK partners with experienced and capable management teams that can benefit from additional resources and strategic support brought by GHK to drive transformational earnings growth and investment returns.
Source: GHK Capital Partners