Lone investor acquires Indiana-based Custom Millwork & Display
February 3, 2021 | 5:34 pm UTC
SOUTH BEND, Ind. - Family-owned architectural millwork and cabinetmaker Custom Millwork & Display has been acquired by lone private investor Kurt Madvig.
Founded in 2005 in South Bend, Indiana, Custom Millwork makes custom-made millwork, architectural millwork, and furniture for universities, schools, churches, and businesses. The company has been owned and operated by its founder, Jerrel Mead and his son and partner, Dustin Mead since its inception.
Madvig is an entrepreneur with a diverse background in economics and business operations.
Custom Millwork has seen big sales increases over 2017-2019.
“We have aligned ourselves with a network of very good vendors, suppliers and other quality millwork shops,” said Jerrel Mead, president. The strategy worked, as 2018 sales grew 35.1% for the providers of architectural millwork to the commercial and educational sectors.
After 2019, the Meads decided it was a good time to sell, enlisting Calder Capital to assist.
“COVID-19 created some obstacles for Custom Millwork, and the transaction took longer than we anticipated,” says Garrett Monroe, Mergers and Acquisitions advisor at Calder Capital. "However, we found a great fit in Kurt, and I believe he’ll team up well with Dustin to help fuel Custom Millwork’s growth going forward.”
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