Executive Cabinetry, a Gridiron Capital portfolio company, has completed the acquisition of Tedd Wood, Inc., a manufacturer of high-end custom and semi-custom cabinetry.
Tedd Wood manufactures custom and semi-custom premium cabinets under the Tedd Wood Custom, Vision Collection and Value Plus brand names. The company was founded by Matt Pannebaker and Ted Pannebaker in 1994 and is based in Thompsontown, PA (www.teddwood.com).
“Tedd Wood is a terrific addition to the Executive umbrella,” said Gridiron Capital’s Managing Partner, Tom Burger. “Tedd Wood has a reputation for premium products and top notch customer service. We look forward to partnering with Matt and Ted Pannebaker and the rest of the management team to bring the Tedd Wood brand into new markets.”
Executive Cabinetry manufactures custom and semi-custom kitchen and bathroom cabinetry that is sold under the Executive Cabinetry, Bellini Collection and Designer Series of Finishes brand names. The company’s products include kitchen and bath cabinetry, custom accent pieces such as wood hoods, and a range of accessories such as moldings, trims, posts and turnings. Executive Cabinetry is headquartered in Simpsonville, SC (www.executivecabinetry.com).
“We are thrilled to have the opportunity to partner with Tedd Wood,” said Executive’s Chief Executive Officer, Dave Romeo. “Tedd Wood is a first class brand, with a highly skilled management and factory team, and one we believe has significant potential throughout North America.”
“It has been a gratifying experience to grow the Tedd Wood brand from scratch with our excellent team,” said Matt Pannebaker, President and Co-Founder of Tedd Wood. “When we first discussed a partnership with Executive, we immediately saw the value in joining forces. Executive is an ideal partner, and I look forward to working closely with Dave Romeo and Gridiron to take both our companies to the next level.”
Gridiron Capital invests in manufacturing, service and specialty consumer companies that have EBITDAs from $5 million to $30 million and that are located in the United States and Canada. The firm is based in New Canaan, CT (www.gridironcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-7-13
