Kinzie Capital Partners has acquired Colony Display, a maker of fixtures, exhibits, and displays used in the home improvement, retail and hospitality industries.
Colony’s products are constructed of wood, metal, wire and plastic and in addition to its manufacturing capabilities, Colony also provides assembly, installation and project management services.
The company has 400,000 sq. ft. of manufacturing capacity and 300,000 sq. ft. of flex manufacturing space with CNC capabilities, multiple metal shops, a powder coating line, wet paint facilities, and over 40 loading docks. The company is led by CEO Chuck Zich and has annual revenues of approximately $70 million. Colony was founded in 1983 by Jerry Zich and Kent West and is headquartered near Chicago in Elgin, Illinois.
The acquisition of Colony by Kinzie was completed in partnership with the company’s founders and management and Mr. Zich continues to lead the company. “We are excited to partner with Kinzie to continue the strong trajectory of our business,” said Mr. Zich. “Kinzie provides us with the tools and resources to advance our strategy underpinned by our longstanding commitment to be a trusted partner to our customers.”
“We are thrilled to invest alongside Colony’s management as we were immediately impressed by their commitment to service and partnership with their customers,” said Suzanne Yoon, founder and managing partner of Kinzie. “Kinzie will support their continued growth and long-term success by working alongside Colony’s management team to provide increased operational and technological expertise.”
Kinzie Capital Partners invests up to $50 million of capital in US-based companies with revenues of $10 million to $250 million and EBITDA of $3 million to $15 million. Sectors of interest include consumer, manufacturing, and services. The firm has a strategic alliance with Clarity Partners, a Chicago-based management and technology consulting firm.
“After 37 years, finding the right company to sell to was very important to us,” said Kent West, co-founder and former chief executive officer of Colony. “We wanted someone who shared our vision and would allow us, and our management, to invest in Colony’s next phase of growth. Kinzie’s collaborative approach was the perfect fit for us. In addition, Kinzie’s operational experience will be invaluable as we execute our strategic plan while continuing to provide best-in-class retail and hospitality environments to our customers.”
Kinzie Capital Partners was founded in June 2017 by Managing Partner Suzanne Yoon and is headquartered in Chicago.
© 2019 Private Equity Professional | November 20, 2019