Ridgemont Equity Partners has completed a majority equity investment in The Cook & Boardman Group, a specialty distributor of commercial metal and wood doors and a portfolio company of Blue Point Capital Partners since 2008.
“We are truly excited to have the opportunity to continue to pursue our organic and acquisition growth strategies under Ridgemont’s ownership going forward,” said Chuck Hummel, CEO of Cook & Boardman. “We selected Ridgemont as the best private equity firm to assist us with our strategic direction and are excited about the next chapter in our firm’s history.”
The Cook & Boardman Group is a specialty distributor of commercial metal and wood doors, door frames, door hardware, and related products, including access control devices and specialty products. The company serves the non-residential construction market, including the education, municipal, healthcare, commercial, office, multi-family, and hospitality sectors. Cook & Boardman is headquartered in Winston-Salem, NC, and operates twenty locations across eight states (www.cookandboardman.com).
“Our partnership has spent a number of years carefully evaluating investment opportunities in the building products industry, and we believe that Cook & Boardman represents an ideal platform for Ridgemont,” said Rob Edwards, Partner at Ridgemont. “Cook & Boardman fits our investment profile as the company is the clear market leader and provides value-added services in the commercial door distribution supply chain. We’re pleased to have the opportunity to partner with CEO Chuck Hummel and his team on Cook & Boardman’s next phase of growth.”
Ridgemont Equity Partners (formerly Banc of America Capital Investors) focuses on middle market buyout and growth equity investments of $25 million to $100 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications/media/technology. Ridgemont Equity Partners is headquartered in Charlotte, NC (www.ridgemontep.com).
Piper Jaffray & Co. served as exclusive financial advisor to Cook & Boardman. Advisors for Ridgemont included K&L Gates and SunTrust Robinson Humphrey.
Debt financing partners for this transaction included GE Antares, Ally Corporate Finance, SunTrust Bank, PNC Bank and Triangle Capital.
2014 PEPD • Private Equity’s Leading News Magazine • 9-16-14
