Investment holding company formed for cabinetry shops
Building Industry Partners, a private equity investment firm focused in the U.S. building products industry, has sponsored a newly formed entity, United Cabinet Holdings, to invest in and/or acquire niche-leading North American regional kitchen and bath cabinetry manufacturers. Partners in the firm, whose chairman is Matt Ogden, are longtime kitchen and bath cabinet industry veterans Terry Dickey and Michael Arnaud.
Dickey is serving as CEO of United Cabinet Holdings and Arnaud as executive VP sales. Consistent with BIP’s investment structure philosophy, Dickey and Arnaud are both significant shareholders in United Cabinet Holdings, which will be headquartered in Greensboro, N.C.
Dickey most recently served as president and CEO of Marsh Furniture Co., a leading regional kitchen and bath cabinetry manufacturer. Previously, he served as COO of Cardell Kitchen and Bath’s El Campo division, president of Brammer Manufacturing Company and VP manufacturing for Norcraft/MidContinent Cabinetry.
Arnaud has worked for a number of the industry’s leading manufacturers. He served as VP sales and marketing for UltraCraft Cabinetry, a division of Norcraft Cos. Previously, he served as VP sales for Republic National Cabinet Corporation, a HIG Capital-sponsored buy-and-build platform in the cabinet manufacturing segment that owned Republic Industries, Cabico Custom Cabinetry, Sunshine Kitchens and Legacy Cabinets. Earlier, Arnaud worked for Kitchen Craft and Cuisine Expert.
United Cabinet Holdings completed its inaugural investment, Touchstone Fine Cabinetry, with the recapitalization of Geppetto Kitchens, a Rutherfordton, N.C.-based manufacturer of semi- and full-custom framed and frameless cabinetry, in partnership with existing Geppetto management and shareholders. Touchstone will operate out of Geppetto’s 200,000-sq.-ft. manufacturing facility and initially employ 85 people. BIP and United Cabinet Holdings intend to bring substantial strategic, management and financial resources to support Touchstone’s long-term business plan.