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Closet Works acquires Space-Metrics USA

Pfingsten Partners’ portfolio company, Closet Works, has acquired Space-Metrics USA, a manufacturer and wholesaler of closet and home organisation systems serving closet dealers.

Pfingsten Partners’ portfolio company, Closet Works, has acquired Space-Metrics USA, a manufacturer and wholesaler of closet and home organisation systems serving closet dealers.

Founded in 1985 to supply dealers with quality components for storage and organisation systems, Space-Metrics products include all components and accessories for closets, mud rooms, pantries, garages and home offices.

Closet Works is currently the largest retail closet company in the Chicagoland area, and has showroom locations in Chicago and Elmhurst, Illinois.

The combined entity will create the nation’s most comprehensive offering of laminate and wood veneer home organisation products for both retail and dealer customers.

‘This is an opportune time to grow marketshare, expand offerings, and improve operational efficiencies,’ says Thomas S. Bagley, founder and senior managing director of Pfingsten Partners. ‘Closet Works’ conservative capital structure enabled us to complete the transaction and continue our strategic growth plan for the business even in this challenging environment for the building products industry.’

‘Immediate operational synergies will result in shorter lead times and certain freight advantages for dealers,’ says John Starcevich, managing director of Pfingsten Partners. ‘The influx of capital and ability for these companies to share best practices will lead to significant business growth and development.’

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