Capital Partners® is pleased to announce that Capital Partners Private Equity Income Fund III, LP completed an investment in Universal Woods on March 15, 2019 in partnership with current CEO and long-time shareholder Paul Neumann and management.
Headquartered in Louisville, Kentucky, Universal Woods is the world’s leading manufacturer of hard-surface coated substrates for image sublimation and mezzanine decking. Universal Woods prides itself on its collaborative and innovative culture which has led to the development of multiple first-time markets and products over its history.
Paul Neumann, who will continue in his role as CEO of Universal Woods, stated, “We are proud to have created and grown markets for our proprietary products over the past 25 years and are eager to partner with Capital Partners for the next phase of our growth. We believe that our team comprised of 220 teammates is the foundation of our success. Capital Partners’ own focus on culture and integrity resonates closely and will allow this partnership to truly flourish.”
Capital Partners, based in Connecticut, has a history of investing in management owned manufacturing operations. Capital Partners’ equity investment will provide Universal Woods with additional resources to support growth including investing in new products and people.
“Universal Woods has built a compelling business with unique value-add process technology, a world-class culture and blue-chip customer base. Our traditional low debt approach will support management’s robust growth plan” said Managing Director Mark Langer. “Universal Woods is a fantastic fit with our investment philosophy, and we are pleased to partner with their strong and committed teammates.”
Capital Partners will assume majority ownership with its equity investment. Debt financing was provided by PNC. Finn Dixon & Herling LLP served as legal counsel to Capital Partners. Bigelow LLC served as the advisor to the seller.
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