DENVER - Ninth Street Capital Partners and Tecum Capital have acquired a 60-employee Denver architectural millwork firm, Freelance Enterprises. Ninth Street Managing Director Patrick Dickinson (below) is now president of Freelance Enterprises.
Cleveland-based Ninth Street Capital also owns Kitchen Cabinet Distributors, a Raleigh, N.C.-based RTA kitchen cabinetry firm. Though terms of the deal were not disclosed, the Denver Business Journal reprots the investment to Freelance Enterprises at $7 million.
Tecum Capital raised $225 million for its investment fund earlier this year, using it in a partnership with Validor Capital to acquire The Marwin Co. Inc., a West Columbia, S.C. manufacturer of specialty building products such as attic stairways and pocket door frames, in June.
Freelance Enterprises, founded in 1991, provides concept-to-completion premium design and craftsmanship to the commercial millwork industry. focusing on health care, hospitality, multi-unit residential, financial and educational sectors. A member of the Architectural Woodwork Institute, the firm has experience rapid growth in recept years. AWI lists Ted Rosiere as principal contact. Freelance Enterprise's webste shows a Biesse Rover CNC and Brand edgebander among other equipment.
"The company’s attention to customer service while providing finely crafted products has allowed the Freelance to grow since its founding," says Ninth Street managing partner Michael Weiner. "We believe that this partnership will best position the company to take advantage of the growing demand for commercial millwork in the Rocky Mountain Region of the U.S. NSCP is investing substantially in Freelance’s facilities to help the company meet anticipated growth.”
“With an operating model that emphasizes quality craftsmanship, attention to detail, and customer service, Freelance is a trusted provider to the top general contractors, architects, and builders throughout the Front Range,” added Dickinson, who also serves as president of Kitchen Cabinet Distributors.
“We see a tremendous opportunity to accelerate Freelance’s growth while continuing to provide exceptional service and craftsmanship to our customers. Under the new ownership structure, we hope to support the company’s leaders as they grow the business,” said Weiner.