SAN ANTONIO, TX - Cardell Cabinetry has received a "significant investment:" from Miami-based private equity firm, H.I.G. Capital.
All American Group
Innovative Building Systems
Witex Flooring Products
It is H.I.G. Capital's second equity stake in Cardell Cabinetry, since November 2010, when H.I.G. first invested in the San Antonio, Texas-based semi-custom bath and kitchen cabinetry manufacturer, marketer, distributor, and designer.
Cardell Cabinetry, established 30 years ago, operates a large state of the art manufacturing facility in San Antonio and sells through hundreds of distributors and dealers nationwide under the Spectrum 360, Odyssey, and Advantage cabinetry design labels.
In announcing the new equity position, Richard Stokes, managing director of HIG Capital, said, "Cardell [Cabinetry] will outperform its peers as new housing construction and remodelling activity recover in the coming years.”
HIG Capital has more than $8.5 billion of capital under management and specializes in providing capital to small and medium sized businesses from its offices in Atlanta, Boston, New York, San Francisco, as well as Hamburg, London and Paris in Europe.
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