COSTA MESA, Calif., April 20, 2005 (PRIMEZONE) -- Kinsman Capital LLC has acquired Drawer Box Specialties Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Drawer Box Specialties, Inc.
"Kinsman Capital acquired Drawer Box Specialties primarily because of its large number of current customers and tremendous growth potential," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets. "Over the past three years Drawer Box Specialties has posted double-digit growth rates and consistent operating margins. Kinsman Capital's interest in the deal was a result of this strong performance in a specialized industry with minimal competitive pressures from overseas."
About RSM EquiCo, Inc.
RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Drawer Box Specialties
Founded in 1987 and based in Orange, California, Drawer Box Specialties manufactures wooden drawer boxes for the cabinet and furniture industry. The company's products, made from solid wood, plywood and laminated materials, serve commercial customers as well as cabinet and furniture supply companies. In 2004 Drawer Box Specialties manufactured and sold over 300,000 drawer boxes. The company, with approximately 80 employees, is able to complete orders of up to 500 drawers within five days.
About Kinsman Capital
Formed in 1998 and based in San Diego, California, Kinsman Capital is a $150 million private equity sponsor that invests in middle-market manufacturing, distribution and service businesses throughout the United States. Through its partnership with BancBoston Capital, which has invested over $4.5 billion worldwide in more than 500 companies since 1959, Kinsman Capital offers a mix of strategic resources, industry-focused capital, and management expertise to fuel the growth of portfolio companies.