Wellborn Forest, a portfolio company of HCI Equity Partners, has acquired De Pere Cabinet. Wellborn Forest was acquired by HCI in November 2018.
Wellborn Forest is a designer and manufacturer of semi-custom wood kitchen and bath cabinets primarily for single-family residences. The company uses an independent sales force to market its products to kitchen and bath cabinet dealers primarily located in the southeastern and eastern United States. Wellborn Forest, led by CEO Tim Wellborn, is headquartered 50 miles northeast of Montgomery in Alexander City, Alabama.
De Pere Cabinet (DCI) is a designer and manufacturer of modular, semi-custom kitchen cabinets primarily for single-family residences. The company’s cabinets are sold exclusively through dealer channels under the Countryside Cabinet brand name. DCI is headquartered near Green Bay in De Pere, Wisconsin.
The acquisition of DCI expands Wellborn Forest into the upper Midwest, adds customer diversification and a complementary product line.
“We are very excited about partnering with DCI,” said Mr. Wellborn. “The company has a great reputation in the industry with their Countryside Cabinet brand and we look forward to providing a broader product offering to our combined customer base.”
“DCI is highly complementary to Wellborn Forest,” said Dan Dickinson, a managing partner at HCI. “It adds key new customer relationships and combines two exceptional teams with best in class capabilities in their respective markets.”
HCI invests in industrial products and service companies that have from $20 million to $200 million in annual revenue and $5 million to $20 million in EBITDA. Sectors of interest include aerospace and defense; transportation products and services; distribution; infrastructure products and services; niche manufacturing; and industrial services. The firm, founded in 2003 and headquartered in Washington DC, is led by managing partners Dan Dickinson and Doug McCormick.
TKO Miller, a Milwaukee-headquartered investment bank serving the middle market, was the financial advisor to De Pere Cabinet.
Private Equity Professional | September 22, 2020
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