SOURCE: Blue Point Capital Partners, LLC

Blue Point Capital Partners, LLC

Blue Point Capital Partners, LLC

September 16, 2014 08:45 ET

Blue Point Capital Partners Exits The Cook & Boardman Group

CHARLOTTE, NC--(Marketwired - Sep 16, 2014) -  Blue Point Capital Partners announced today that the firm has sold its interest in The Cook & Boardman Group, LLC (C&B) to Ridgemont Equity Partners. Blue Point invested in C&B from its 2006 vintage fund, Blue Point Capital Partners II, L.P. -- a $400 million lower middle-market buyout fund. Sale terms were not disclosed.

Cook & Boardman, headquartered in Winston-Salem, NC, is a value-added distribution company focused on serving commercial and institutional construction contractors, national retail, restaurant and hotel brands and building owners. Founded in 1955, C&B distributes a variety of commercial hollow metal and wood doors, door frames, architectural hardware and related accessories, including electronic access control devices. The Company's operating divisions, in addition to Cook & Boardman, include Architectural Building Supply, Exactitude (brands include Hardware Consultants and Precision Millwork), Hollow Metal Specialists, Martin Architectural Products and Precision Doors & Hardware.

"We were pleased to have the opportunity to invest again with Chuck Hummel and his team. During our ownership period, Cook & Boardman's revenue and EBITDA more than tripled, driven by acquisitions and organic growth opportunities," said Juli Marley, a partner with Blue Point. "The exceptional outcome is a direct result of our strategic plan to grow the platform and diligent execution by the management team. We are immensely pleased with our results at Cook & Boardman."

Blue Point has a strong track record investing in the architectural door and hardware industry, having previously made a similar investment with the senior management of C&B.

Hummel, chief executive officer of C&B, stated, "As we expected, partnering with Blue Point again proved to be a success. Over a six-year period, we grew the Cook & Boardman platform from a regional business with five locations into a national distributor with 20 locations across eight states. Blue Point's strategic support and operational guidance were instrumental in allowing us to repeat the success we enjoyed during our first investment partnership."

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. Leveraging fully staffed offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point's entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point's network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm's experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.

Contact Information

  • For more information, contact:

    BLUE POINT CAPITAL PARTNERS
    Juli Marley
    Partner
    Blue Point Capital Partners, LLC
    201 South Tryon Street, Suite 850
    Charlotte, NC 28202
    (704) 347-8842

    COOK & BOARDMAN
    Chuck Hummel
    Chief Executive Officer
    The Cook & Boardman Group, LLC
    3916 Westpoint Blvd.
    Winston-Salem, NC 27103
    (336) 768-8872
    www.cookandboardman.com