Private equity investment firm Building Industry Partners sponsors formation of United Cabinet Holdings in partnership with two industry veterans; Greensboro, North Carolina, firm will invest in/acquire kitchen and bath cabinetry manufacturers
GREENSBORO, North Carolina
February 14, 2012
– Building Industry Partners, LLC, a Fort Worth, Texas based private equity investment firm focused in the U.S. building products industry, sponsored a newly formed entity, United Cabinet Holdings LLC, in partnership with long-time kitchen & bath cabinet industry veterans Terry Dickey and Michael Arnaud. Based in Greensboro, North Carolina, United Cabinet Holdings will invest in and/or acquire niche-leading North American regional kitchen & bath cabinetry manufacturers. Mr. Dickey is serving as Chief Executive Officer of United Cabinet Holdings and Mr. Arnaud as Executive Vice President of Sales. Consistent with BIP's investment structure philosophy, Messrs. Dickey and Arnaud are both significant shareholders in United Cabinet Holdings.
Concurrently, United Cabinet Holdings completed its inaugural investment, Touchstone Fine Cabinetry. Touchstone was formed via the recapitalization of Geppetto Kitchens, a Rutherfordton, NC-based manufacturer of semi- and full-custom framed and frameless cabinetry, in partnership with existing Geppetto management and shareholders. Touchstone will operate out of Geppetto's 200k+ square foot, highly integrated manufacturing facility and initially employ 85 people. BIP and United Cabinet Holdings' management team are enthusiastic about servicing the business' loyal customers into the future and see opportunity to build upon the business' longstanding capability in producing high quality semi- and full-custom cabinetry. Furthermore, Mr. Dickey and Mr. Arnaud intend to leverage their 50+ combined years of experience in the cabinet segment to make meaningful improvements to the business' operations, product quality and breadth and customer service. United Cabinet Holdings will bring substantial strategic, management and financial resources to support Touchstone's long-term business plan.
Background of Management Team
Terry Dickey- President & CEO of United Cabinet Holdings. Mr. Dickey is a 25+ year kitchen & bath cabinet manufacturing industry veteran. Mr. Dickey most recently served as President/CEO of Marsh Furniture Company, a leading regional kitchen & bath cabinetry manufacturer. Previously, he served as COO of Cardell Kitchen and Bath's El Campo Division, President of Brammer Manufacturing Company and VP, Manufacturing for Norcraft/MidContinent Cabinetry. Mr. Dickey began his early career as an industrial engineer and plant manager in the furniture industry. He has served multiple terms on the Kitchen Cabinet Manufacturers Association (KCMA) Board and Specifications Committee. Mr. Dickey received a B.S. in Industrial Forestry Operations from Virginia Polytechnic Institute and University and earned his MBA from The University of Iowa. email@example.com Phone: 828-351-2020.
Michael Arnaud - EVP of Sales & Marketing of United Cabinet Holdings. Mr. Arnaud has spent his entire 24 year career in the kitchen and bath cabinetry industry, working for a number of the industry's leading manufacturers. He served as Vice President of Sales & Marketing for UltraCraft Cabinetry, a division of Norcraft Companies. Previously, he served as Vice President of Sales for Republic National Cabinet Corporation, a HIG Capital-sponsored buy & build platform in the cabinet manufacturing segment, that owned Republic Industries, Cabico Custom Cabinetry, Sunshine Kitchens and Legacy Cabinets. Earlier, Mr. Arnaud worked for Kitchen Craft and Cuisine Expert. He graduated from Red River College in Winnipeg, Manitoba with a B.S. in Business Administration. firstname.lastname@example.org. Phone: 336-346-1964.
Background of BIP
Building Industry Partners, LLC ("BIP") is a Fort Worth, Texas-based private equity investment firm specializing in the U.S. middle-market building products industry and affiliated with Chambers Interests, the investment office of the Chambers family of Fort Worth, Texas. BIP partners with and provides private equity capital to: (1) private building products companies seeking to grow their long-term equity value via organic and/or "buy-and-build" acquisition growth strategies, (2) companies seeking partial or full liquidity and/or a transition of ownership via a recapitalization or sale and (3) proven management teams seeking to build their own business via management buyout of their current employing company or the acquisition of other established businesses within their niche of expertise. BIP focuses its efforts primarily on transactions involving privately-owned building product manufacturers, distributors and dealers as well as construction-related service companies, typically with revenues of $25 to $500 million. BIP also pursues smaller investments as part of larger niche buy & build strategies. BIP's management team is led by Matt Ogden, a long-time private equity investment professional, as well as a team of seasoned investment professionals and building industry operating executives. BIP is a co-founding equity sponsor of US LBM Holdings, a $450 million sales holding company in the lumber & building materials "pro dealer" industry. BIP is a member of the Kitchen Cabinet Manufacturers Association (KCMA).