“We are very excited about this next stage for Lexmark. Our partnership with H.I.G. will provide us with financial and operating resources that will enable us to further capitalize on our significant growth potential at an exciting time for our industry,” said Todd White, Founder and CEO of Lexmark.
Lexmark is a specialty carpet mill focused on supplying high-styled nylon and polyester carpet to customers in the hospitality, residential and niche commercial end markets. Lexmark was founded in 1993 and is based in Dalton, GA (www.lexmarkcarpet.com).
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $13 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Paris, and Rio de Janeiro (www.higcapital.com).
“Todd White and his team have established Lexmark as a leading manufacturer of high-styled broadloom carpet for hospitality, residential and niche commercial customers,” said Ricky Stokes, a Managing Director of H.I.G. “We look forward to working with the team to build upon their successful track record. We believe there are numerous opportunities, both in hospitality as well as new markets and applications, where Lexmark’s quality products and focus on customer service will enable continued, sustainable growth.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-1-13