Weller Equity Partners has acquired KFI Seating, a manufacturer and distributor of moderately priced seating and table products used in the educational, hospitality, commercial, and government end markets.
KFI Seating has approximately 750 SKUs and has a a 160,000 sq. ft. manufacturing, warehouse and headquarters facility in Louisville. The company was founded in 1978 (www.kfiseating.com).
“We have been looking for an experienced partner to help us replace a retiring co-owner and key executive, while keeping our sights fixed on the continued growth and development of our business,” said Chris Smith, President of KFI.
“The KFI transaction is a classic fit for Weller as we look to partner with existing management teams to provide liquidity for shareholders, capital for growth, and organizational development to help businesses achieve their full potential,” said Ken Berryman, Managing Partner of Weller.
Weller Equity Partners invests from $1 million to $10 million in companies with $5 million to $50 million of revenue and at least $500,000 of EBITDA. Sectors of interest include manufacturing, healthcare, information technology, food and beverage, and business services. The firm invests in both subordinated debt and equity and will make both minority and majority investments. Weller Equity Partners is based in Louisville (www.wellerequity.com).
KFI was represented by investment bank Charter Capital Partners (www.chartercapitalpartners.com). Charter has offices in Grand Rapids, MI (headquarters); Detroit, MI; Mishawaka, IN; and Indianapolis, IN. Andrew Williams, Director, lead the transaction for Charter.
“A key component of the transaction’s success was making sure everyone’s interests were aligned,” said KFI Chief Operating Officer Scott Williamson. “The transaction was designed so that each co-owner of KFI was able to achieve their financial and personal goals, while providing the company with a strategic partner to propel future growth. It was a win-win for all parties.”
© 2016 Private Equity Professional • 8-23-16