GHK Capital Partners has acquired Dura Supreme Cabinetry from the company’s second-generation founding family.
Dura Supreme is a vertically integrated manufacturer of semi-custom and custom, framed and frameless kitchen and bath cabinetry. The company’s products are sold through a nationwide dealer network.
Dura Supreme was founded in Minnesota by Donald Stotts in 1954 and today has more than 400 employees and a 220,000 sq. ft. manufacturing facility located west of Minneapolis in Howard Lake, MN.
As part of this transaction, Tony Sugalski, an operating executive with experience serving the residential end market and the dealer channel, has joined Dura Supreme 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 other key senior executives are remaining with the company.
“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. Mr. Klemann founded GHK in January 2018 after more than sixteen years at Goldman Sachs where he invested in control private equity transactions in the industrials, financial services, retail consumer and media sectors.
“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,” said Mr. Fails. “We are excited about the potential this new business partnership fosters.”
GHK invests in companies with $15 million to $40 million of EBITDA that are active in the manufacturing, building products and services, business services, distribution and logistics, packaging, and general industrial sectors. The firm is headquartered in Greenwich, CT.
Harris Williams & Co. was the financial advisor to the Stotts family on this transaction.
© 2019 Private Equity Professional | October 17, 2019
