Kith Kitchens, a portfolio company of Pfingsten Partners, has acquired Mouser Custom Cabinetry, a maker of semi-custom and custom kitchen and bath cabinetry.
Mouser’s framed and frameless cabinets are made from a variety of wood species – including alder, cherry, hickory, maple, red and white oak, and walnut – and are available in a wide range of finishes and door styles.
The Elizabethtown, Kentucky-based company was founded in 1955 and has more than 240 employees and 227,000 square feet of offices, manufacturing, and warehouse facilities.
“Kith is the perfect strategic partner for our business,” said Steve and Keith Mouser, the former owners of Mouser. “The combination with Kith will allow us to better serve our diverse customer base through access to increased resources and product offerings while collaborating to drive manufacturing efficiencies and growth.”
Pfingsten acquired Kith Kitchens, an Alabama-based maker of kitchen and bath cabinetry, in June 2016 as a platform investment for its $382 million fifth fund which closed in March 2016. Kith, led by CEO Mark Smith, makes semi-custom kitchen and bath cabinetry for both the remodeling and new construction markets under the Kith and Eudora brand names. The buy of Mouser, which closed on December 31, 2020, is Kith’s first add-on acquisition under Pfingsten’s ownership.
“We are excited to add Mouser to the Kith platform,” said Mr. Smith. “Mouser’s outstanding reputation and extensive product portfolio of premium kitchen and bath cabinets will be highly complementary to Kith. The combined business will offer its customers high-quality products in a variety of price points, customization options and materials.”
Chicago-based Pfingsten invests in middle-market manufacturing, distribution and business services companies that have transaction values ranging from $15 million to $100 million, revenues from $20 million to $150 million, and EBITDA between $3 million and $12 million. Since completing its first investment in 1991, Pfingsten has acquired 142 such companies through five funds with total commitments of $1.3 billion.
© 2021 Private Equity Professional | January 14, 2021