Peak Rock Capital has acquired the interior products division of RJF International Corporation creating Koroseal Interior Products, a manufacturer and distributor of wall coverings, wall protection systems and dry-erasable wall coverings.
“Koroseal represents an exciting opportunity for us to invest in a best-in-class manufacturing and distribution business that can benefit from our resources and strategic support in positioning the company for outstanding growth,” said Anthony DiSimone, CEO of Peak Rock Capital. “Our acquisition of Koroseal also highlights our continued focus on investing in middle-market building products businesses and carve-out transactions.”
Koroseal Interior Products is a manufacturer and distributor of wall coverings, wall protection systems and dry-erasable wall coverings. Koroseal’s products are used by interior designers, architects, contractors and corporations, and are primarily featured in the hospitality, healthcare, corporate, retail, and education markets. Brand names include Koroseal, a top selling global brand of commercial wall coverings, Vicrtex, Korogard and Walltalkers. Koroseal Interior Products is headquartered near Akron in Fairlawn, OH (www.koroseal.com).
“Koroseal’s design and manufacturing expertise, in-house distribution network and unmatched customer service have allowed it to build strong and deep relationships with key decision makers throughout the commercial construction and renovation industry,” said Robert Strauss, Managing Director of Peak Rock Capital. “We are excited to partner with Koroseal’s experienced management team to utilize these strengths in rapidly growing the company through organic initiatives and potential strategic add-on acquisitions.”
Peak Rock Capital makes debt and equity investments of $20 million to $150 million in middle market companies with revenues from $50 million to $1 billion and enterprise values from $25 million to $500 million. Sectors of interest include business and commercial services; consumer; distribution and logistics; energy and related services; healthcare; industrials; manufacturing, metals, and media. The firm is based in Austin, TX (www.peakrockcapital.com).
“Having just celebrated our 25th anniversary, I am very proud of all that we have accomplished as a company. As we move forward as Koroseal Interior Products, I am pleased to partner with Peak Rock to leverage their strategic and operational expertise to help guide us to the next level of success,” said Rich Runkel, CEO of Koroseal.
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-17-14