Quad-C Exits Stanton Carpet
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Quad-C Exits Stanton Carpet

Stanton completed two add-ons under Quad-C ownership with the buys of Cavan Carpets in 2021 and Hibernia Woolen Mills in 2017

Stanton Carpet is a distributor of decorative, self-branded carpet, custom rugs and vinyl plank products

SOURCE: Stanton Carpet

Quad-C Management has completed its sale of Stanton Carpet to Dunes Point Capital. Quad-C acquired Stanton Carpet from Norwest Equity Partners (NEP) in November 2016.

Stanton Carpet is a value-added distributor of decorative, self-branded carpet, custom rugs and vinyl plank products. Company-owned brands include Stanton, Antrim, Royal Dutch, Atelier, Rosecore and Crescent. The company sells its products through a network of retail partners, including independent retail floor showrooms, trade showrooms, and home furnishing retailers.

Stanton, founded in 1980 by Sy Cohen and today led by CEO Jonathan Cohen, has 160 employees and is headquartered on Long Island in Woodbury, New York, with a 227,000 square-foot customer service, distribution, and fabrication center that is located 70 miles northwest of Atlanta in Calhoun, Georgia.

“We are fortunate to have worked closely with Sy and Jonathan Cohen and the entire team at Stanton for the last five years,” said Thad Jones, a partner at Quad-C. “We are proud of what the team accomplished during our partnership, including the launch of the Stanton Street decorative commercial business, the development of an e-commerce channel and the introduction of Stanton Decorative Waterproof Flooring, the company’s first hard surface product offering.  All of us at Quad-C look forward to seeing the company’s continued success in the years ahead.”

Stanton completed two add-on acquisitions under Quad-C ownership with the buys of Pennsylvania-based Cavan Carpets in May 2021, and California-based Hibernia Woolen Mills in November 2017.

“The Stanton management team is one of the strongest in their industry. It has been a pleasure to work alongside them in pursuit of our shared goals,” said Jack Walker, a partner at Quad-C. “In addition to successfully executing on our organic growth plan, the team at Stanton completed two strategic acquisitions during our partnership which further solidified the company as an industry leader, while maintaining its strong tradition and culture. We wish the Stanton team all the best for the future.”

Quad-C invests in companies with enterprise values of $50 million to $400 million. Sectors of interest include business and consumer services, general industrial, healthcare, specialty distribution, and transportation and logistics. Quad-C was founded in 1989 and is headquartered in Charlottesville, Virginia.

Dunes Point is a family office and private investment firm that makes control investments in companies operating in the general industrial and business services sectors that have enterprise values of up to $1 billion. The firm was founded in 2013 by Timothy White, a former senior managing director of credit-focused hedge fund GSO Capital which was acquired in 2008 by Blackstone and renamed Blackstone Credit in 2020.

Baird was the financial advisor to Stanton on this transaction and Alvarez & Marsal’s transaction advisory group advised Dunes Point. Debt for this acquisition was provided by Antares Capital and Churchill Asset Management.

© 2021 Private Equity Professional | October 5, 2021

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