Norwest Mezzanine Partners Invests in Stanton Carpet Corporation
August 07, 2012
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) today announced that it has invested $20.0 million in subordinated debt and equity to support Norwest Equity Partners’ (NEP) recent investment in Stanton Carpet Corporation, a leading distribution company offering a variety of decorative high quality, branded soft floor covering products for the residential market. This investment was made out of NMP III, a $750 million limited partnership.
Founded in 1980 by Sy Cohen, Stanton was built on the mission to create a brand synonymous with style and value for the decorative market. The Company has achieved that mission with what is recognized today as one of the nation’s leading distributors of decorative, high-quality branded carpet and custom rugs. Offering award-winning brands, including Stanton Carpet, Royal Dutch Carpets, Antrim, and Rosecore, Stanton maintains an active base of more than 3,500 customers comprised of independent retail floor showrooms, architecture and design firm showrooms, and catalog and internet retailers.
“With a long-standing reputation of providing excellent customer service and an ability to introduce new products and enter new markets, Stanton is well-positioned to realize continued growth and market share. NMP is excited about this investment opportunity and work with both management and the NEP team,” stated Carter Balfour, Partner, NMP.
With nearly $5 billion of combined capital under management, NEP and NMP are affiliated investment vehicles with strategies focused on providing capital to middle market businesses. Both firms possess flexibility and breadth in their investment charters, giving them a unique advantage over similar entities.
Stanton is headquartered in Syosset, New York and has a distribution facility in Calhoun, Georgia. For more information, please visitwww.stantoncarpet.com.