Ridgemont Equity Partners has closed a majority equity investment in The Cook & Boardman Group, a distributor of commercial metal and wood doors, door frames, door hardware and related products.
Financial terms of the transaction have not been disclosed.
Cook & Boardman is headquartered in Winston-Salem, North Carolina, and operates 20 locations across eight states. The company serves the non-residential construction market, including the education, municipal, healthcare, commercial, office, multi-family, and hospitality sectors.
“Our partnership has spent a number of years carefully evaluating investment opportunities in the building products industry, and we believe that Cook & Boardman represents an ideal platform for Ridgemont,” says Rob Edwards, partner at Ridgemont. “Cook & Boardman fits our investment profile as the company is the clear market leader and provides value-added services in the commercial door distribution supply chain. We’re pleased to have the opportunity to partner with CEO Chuck Hummel and his team on Cook & Boardman’s next phase of growth.”
“We are truly excited to have the opportunity to continue to pursue our organic and acquisition growth strategies under Ridgemont’s ownership going forward,” says Chuck Hummel, chief executive of Cook & Boardman. “We selected Ridgemont as the best private equity firm to assist us with our strategic direction and are excited about the next chapter in our firm’s history. Following this transaction, Cook & Boardman will continue to provide the same high-quality service to our customers and suppliers.”
Piper Jaffray & Co served as exclusive financial advisor to Cook & Boardman. Advisors for Ridgemont included K&L Gates and SunTrust Robinson Humphrey. Debt financing partners for the transaction included GE Antares, Ally Corporate Finance, SunTrust Bank, PNC Bank and Triangle Capital Corporation.
