Norwest Equity Partners (NEP) has sold Stanton Carpet Corporation to Quad-C Management. This transaction closed on November 21, 2016.
Stanton Carpet is a value-added distributor of carpet and custom rugs and runners under the Stanton, Antrim, Royal Dutch, Atelier, Rosecore and Crescent brands. The company sells its products through approximately 4,000 retail partners, including independent retail floor showrooms, trade showrooms and home furnishing retailers. Stanton has 100 employees and is based on Long Island in Syosset, NY with a distribution center in Calhoun, GA (www.stantoncarpet.com).
During NEP’s ownership, the company acquired Crescent Carpet (July 2016), and expanded the company’s sales force, international supply partners, and showroom and retail partners. “NEP has been a true partner to the Stanton team, sharing their family business and distribution industry experience, while also helping to align our company with the right resources to help us grow and outperform expectations. We have thoroughly appreciated NEP’s guidance and partnership over the last four years,” said Sy Cohen, Stanton Founder and Chairman. NEP acquired Stanton Carpet in 2012 from Mr. Cohen, who founded the company in 1980.
NEP makes equity investments of $30 million to $250 million in companies that have more than $10 million in EBITDA. Sectors of interest include agriculture, business services, consumer, distribution, diversified industrials, energy, and healthcare. In April 2015, NEP closed Norwest Equity Partners X, LP, a $1.6 billion fund and Norwest Mezzanine Partners IV, LP, an $800 million fund formed by NEP’s affiliated mezzanine investment firm, Norwest Mezzanine Partners. Norwest Equity Partners is headquartered in Minneapolis (www.nep.com).
Quad-C invests from $35 million to $125 million of equity in companies with enterprise values of $75 million to $400 million. The firm was founded in 1989 and is headquartered in Charlottesville (www.quadcmanagement.com).
BB&T Capital Markets served as financial advisor to Norwest Equity Partners. Winston & Strawn served as legal advisor to Stanton.
© 2016 Private Equity Professional
November 30, 2016