Platinum equity to acquire Cabinetworks Group, a leading manufacturer of kitchen cabinets

THE ANGEL, April 5, 2021 / PRNewswire / – Platinum Equity announced today that it has entered into a definitive agreement to acquire Cabinetworks Group (“Cabinetworks”) from American Industrial Partners, GIC and other shareholders.

Cabinetworks is the largest independent manufacturer and distributor of kitchen and bathroom cabinets in The United States Among the country’s leading brands including KraftMaid, Medallion, Smart, Merillat, Yorktowne, Echelon, Advanta, Studio Full Access, Master WoodCraft, and Cabinets 2000. The company manufactures both framed and frameless cabinets in 14 assembly plants and three component facilities and serves customers through a multi-channel approach including sales to dealers, home centers and distributors The United States.

Jacob Kotzubei, a partner of Platinum Equity, said: “Cabinetworks has a comprehensive portfolio of highly regarded, rapidly growing brands, a strong leadership team and a proven track record of growth. The company’s leadership in cabinets combined with Platinum Equity through its operational toolkit and the M&A resources, Cabinetworks fits perfectly into our portfolio. “

Todd Golditch, a managing director of Platinum Equity, said, “We are very excited to be working with the CEO Joe Gross and the entire Cabinetworks team. You have built an attractive platform and contributed to the transformation of the industry. Additionally, together we can do a considerable amount to continue their innovation story and grow the business both organically and through additional M&A activity. Platinum Equity has had great success in the building products sector. We know the industry well and look forward to the opportunities that Cabinetworks offers. “

Other companies in which Platinum Equity previously invested in the building product ecosystem include Interior Logic Group, the largest national provider of interior design and surface solutions for the housing industry, and PrimeSource, a national distributor of special building materials, including fasteners for new construction and remodeling of markets.

Joe Gross, Chief Executive Officer of Cabinetworks, said: “This transaction is another important milestone in the success of our Cabinetworks team. I would like to thank all 8,000 employees for their daily work. I want all Cabinetworks employees to understand. The announcement confirms, What you already know in your heart: The future of our company is limitless if we inspire our customers with products and services For our valued customers, suppliers: The investment of Platinum Equity in our business is a wonderful development in the history of our company Mit Platinum Equity gives us a great partner as we continue to grow our business. “

Rick Hoffman, a partner of American Industrial Partners, said, “We are honored to work with a world-class management team and a remarkable and dedicated workforce The United States Build an industry leading kitchen and bathroom furniture business. We are proud of what Cabinetworks has achieved during our partnership over the past eight years and believe that the company is now positioned for even greater success in the years to come. “

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. Citi was the sole M&A advisor to Platinum Equity. Kirkland & Ellis LLP is the legal advisor to Platinum Equity. BofA Securities will lead debt financing for Platinum Equity and Cabinetworks.

BofA Securities and Barclays acted as financial advisor to Cabinetworks. Ropes & Gray LLP is the legal advisor to American Industrial Partners.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $ 25 billion of assets under management and a portfolio of approximately 40 operating companies serving clients around the world. The company is currently invested by Platinum Equity Capital Partners V, a $ 10 billion Global Buyout Fund and Platinum Equity Small Cap Fund, a $ 1.5 billion The buyout fund focused on investment opportunities in the lower middle class. Specializing in mergers, acquisitions and operations – a proprietary strategy known as M&A&O® – Platinum Equity acquires and operates companies in a variety of business markets including manufacturing, distribution, transportation and logistics, equipment rentals, construction products , Media and entertainment, technology, telecommunications and other industries. In the past 25 years, Platinum Equity has completed more than 300 acquisitions.

Via American industrial partners

American Industrial Partners is an operational private equity firm that makes controlling investments in industrial companies that serve domestic and global markets. The company has deep roots in the industrial economy and has been involved in private equity investing since 1989. To date, American Industrial Partners has completed more than 100 transactions and currently has more than 100 transactions $ 8 billion of the assets under management on behalf of leading pension, foundation and financial institutions. For more information on American Industrial Partners, please visit

About GIC

GIC is a leading global investment firm founded in 1981 to manage Singapore Currency reserves. As a disciplined long-term value investor, GIC is uniquely positioned to invest in a variety of asset classes including stocks, fixed income, private equity, real estate and infrastructure. GIC invests through funds and directly in companies and works with its fund managers and management teams to help world-class companies achieve their goals. GIC has investments in over 40 countries worldwide. Headquarters in SingaporeGIC employs over 1,700 people in 10 offices in major financial cities around the world. You can find more information about GIC at

Media contacts:

Dan Whelan
Platinum equity
[email protected]

Ben DeRosa
American industrial partners
212.627.2360 x200
[email protected]

Rich meadow
Cabinet work
[email protected]

Katy Conrad
[email protected]

SOURCE Platinum Equity

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