Norcraft Cabinetry Files $100 Million IPO

By Karen Koenig | Posted: 10/08/2013 11:40AM


Norcraft Companies EAGAN, MN - Norcraft Companies Inc., a manufacturer of kitchen and bathroom cabinetry, filed plans for an initial public offering of up to $100 million of its common stock. Norcraft will apply for listing on the New York Stock Exchange (NYSE) under the symbol NCFT.

The company says the decision will help fund planned capital expenditures as well as research and development efforts. According to the Oct. 7 SEC filing, Norcraft Companies posted net sales of $312.7 million for the 12 month period ending June 30, 2013.

Founded in 1966. the company markets products under seven brands: Mid Continent Cabinetry, Norcraft Cabinetry, Brookwood Cabinetry, Fieldstone Cabinetry, StarMark Cabinetry, UltraCraft, and Urban Effects. Approximately two-thirds of its net sales in 2012 were to the home repair and remodeling market with the remainder targeted to new residential construction. The company also reported kitchen and bathroom cabinet dealers accounted for 87% of net sales, home builders accounted for 8% and wholesale retailers for 5% of the company's net sales.

Norcraft Companies has six manufacturing facilities, two service and distribution centers and four warehouses located in the United States and Canada. Mark Buller is the CEO.

As part of the company's reorganization efforts, the SEC filing states holders in Norcraft Holdings LP will be given in exchange common units of Norcraft Companies LLC. Holders of equity interests in Buller Norcraft Holdings LLC and MEB Norcraft  LLC will also be given common units of Norcraft Companies LLC in exchange, and Buller Norcraft and MEB Norcraft will be liquidated into the firm.

In addition, the filing states, the shareholders of SKM Norcraft Corp. and Trimaran Cabinet Corp. will exchange their common stock to Norcraft Companies Inc. in exchange for restricted shares, after which the names will be changed from SKM Norcraft Corp. to Norcraft Holdings Corp. I, and Trimaran Cabinet Corp. to Norcraft Holdings Corp. II. The two will become wholly-owned subsidiaries of Norcraft Companies Inc.

The company's sponsors are equity firms Apax Partners L.P., the successor to Saunders Karp & Megrue (SKM), KarpReilly, Trimaran Capital Partners, and the Buller family.


About the Author

Karen M. Koenig

Karen M. Koenig has more than 25 years of experience in the woodworking industry, including visits to wood products manufacturing facilities throughout North America, Europe and Asia. As Editor-in-Chief of Woodworking Network magazine (formerly Wood & Wood Products), Karen’s primary responsibilities include spearheading the writing, editing and coordinating of the editorial content of the publication, along with the Red Book resource guide and the Red Book online source and supply directory ( She is also a frequent contributor to other Woodworking Network online and print media. She can be reached at or Google+.

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