LongWater Buys Lewis Cabinet

LongWater Buys Lewis Cabinet

LongWater Opportunities has acquired Lewis Cabinet Specialties Group, a manufacturer of custom cabinets, from the Lewis family, who founded and have managed the business since its inception in 1990.

Lewis Cabinet manufactures customizable and made-to-order solid wood and laminate cabinet doors and drawer faces, cabinet boxes, and dovetail drawer boxes. The company’s products are sold to both residential and commercial customers throughout the United States. Lewis Cabinet’s highly-automated online ordering and manufacturing processes allows it to offer five-day lead times on its orders. The company is headquartered in Tremonton, UT (www.lewiscabinet.com).

“It was important for my family to find a partner who would support the growth of our business, build on the company’s legacy, and take care of our employees, which is why we chose to partner with LongWater,” said Bobby Lewis, Lewis Cabinet’s President and Co-Owner. “Their experience growing American manufacturing businesses is a great match for the needs of our company. We’re very excited about the future of Lewis Cabinet.”

LongWater Opportunities is an operationally-focused firm that makes control equity investments in lower middle market US-based manufacturing companies. A typical transaction will have an enterprise value from $10 million to $50 million and an EBITDA from $2 million to $10 million. LongWater was founded in 2009 by Jordan Bastable and Brooks Burgum and is based in Dallas with an additional office in Fargo, ND (www.longwateropportunities.com).

“The team at Lewis Cabinet has built an impressive business through their focus on quality and customer service and their investments in technology. We are thrilled to have the opportunity to partner with the Lewis family and help them continue to grow their great organization,” said Mr. Bastable.

Lewis Cabinet is the sixth investment made by LongWater’s second equity fund, LWO Fund II LP, which closed in April 2016.

© 2018 Private Equity Professional | October 9, 2018

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