Denver – SLATE Partners (SLATE) announced today that it advised Tharp Cabinet Corporation (Tharp) in its recapitalization with Rum Ventures, a family office based in Nashville, Tennessee.
Founded in 1971 and based in Loveland, Colorado, Tharp manufactures custom face frame and frameless kitchen and bath cabinets, built-ins, wall beds, entertainment centers, closets and garage storage systems. From its state-of-the-art manufacturing plant and factory showroom, the Company serves builders, developers, remodeling contractors and other commercial clients, as well as private homeowners. As a result of its advanced manufacturing technologies and vertically integrated production facility, Tharp is able to produce built-to-order / built-to-fit custom framed cabinets in approximately half the time of other full custom manufacturers.
Don Fraley, owner and President of Tharp, commented on the transaction: “Unquestionably, the involvement of Aaron Bachik, Jason Munoz and their team of M&A professionals at SLATE Partners maximized the value of our deal. SLATE’s expertise in the building materials and building services industry coupled with their team’s experience negotiating transactions was crucial in the success of our recapitalization. Their guidance was vital in achieving favorable deal terms, which were equally as important as valuation.”
“M&A activity within the building products sector is extremely active right now. Both private equity investors, like Rum Ventures, and operating companies within the industry are pursuing acquisitions aggressively and paying record prices. Great companies, like Tharp, attract interest from both. Thus the owners and management have the luxury of selecting an investor that best suits their long-term objectives,” remarked Aaron Bachik, co-founder of SLATE. “Rum Ventures is an ideal partner for Tharp due to their manufacturing expertise and desire to support the Company’s rapid growth,” added Jason Munoz, co-founder of SLATE.
Tharp was supported in the transaction by its accountants, Bradley Consulting Group, and received legal advice from Woodson L. Herring, JD, LL.M.
About SLATE Partners
SLATE Partners is a boutique investment banking firm with the exclusive mission to provide mergers and acquisitions advisory services to building materials and building services companies nationwide. This specifically includes manufacturers, distributors, and producers of both natural and manufactured building materials. It also includes building services companies such as architects, engineers, and construction/facilities services providers.
SLATE Partners LLC
Securities offered through M&A Securities-Group, Inc. (MAS). SLATE Partners and MAS are not affiliated entities.
