Norwest Mezzanine Partners Invests $24.0 Million in Woodcraft Industries
July 21, 2011
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) today announced that it has contributed $24.0 million in subordinated debt and warrants to support Olympus Partners’ investment in WII Components, Inc., the parent company of Woodcraft Industries, Inc., a leading manufacturer of outsourced hardwood components and doors for kitchen cabinet OEMs.
For more than 20 years, Woodcraft has been recognized as one of the leading U.S. manufacturers of real wood, ready-to-finish furniture and kitchen cabinets, serving within the semi-custom segment. With customers including Masco (Kraftmaid), Fortune Brands (MasterBrand), Elkay (Medallion) and Norcraft, Woodcraft prides itself on strong customer relationships and quality products that are manufactured by highly skilled craftspeople.
John Hogan, a partner at NMP, stated, “Woodcraft is a well-run company with a long history of supporting customers with innovative products and designs. We look forward to working together with the Olympus team to support Woodcraft’s continued positive momentum.”
Founded in 1988, Olympus Partners is a Stamford, CT-based private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. “NMP continues to be a strong investment partner for us, and they demonstrated tremendous flexibility and support throughout the entire transaction process,” stated David Haddad, a principal from Olympus Partners.
Woodcraft Industries is headquartered in St. Cloud, MN. For more information, please visit www.woodcraftind.com.