Pittsburgh, Pennsylvania – F.N.B. Capital Partners, L.P. (“FNBCP”) is pleased to announce the closing of an investment in Kitchen Cabinet Distributors LLC (“KCD”). FNBCP provided a mezzanine debt and equity investment to partner with Ninth Street Capital Partners (“Ninth Street”) and KCD’s founders Richard and Pauline Gambill. FNBCP is a $175 million fund, licensed as a Small Business Investment Company (“SBIC”) and managed by Tecum Capital Management, Inc.
“We have a lot of confidence in Ninth Street and their ability to grow KCD alongside the existing team,” noted Stephen Gurgovits, Jr., Managing Partner at FNBCP. “The Gambill’s have a long history of delivering quality and service to the cabinetry marketplace. We believe that this partnership will best position KCD to take advantage of the rebounding demand for building products in the U.S.” Tyson Smith, Partner at FNBCP, added “our other valued partner on this transaction was Buchanan Ingersoll & Rooney who acted as legal counsel.”
Founded in 2005 and based in Raleigh, NC, KCD is the premier importer and distributor of affordable framed style cabinetry primarily to the home renovation market. The Company’s manufacturing process utilizes the highest quality materials and craftsmanship to produce finely crafted cabinets at industry leading prices. The Company sells its products to cabinetmakers, dealers, remodelers, and builders throughout the U.S. More information can be found at www.kcdus.com.
About Ninth Street Capital Partners
Ninth Street is a private investment partnership specializing in acquiring, managing and growing established businesses. With a focus on executing deals with the highest degree of integrity, Ninth Street makes long-term controlling investments in growth-oriented, privately held businesses with revenues of $5 to $50 million. More information can be found at www.ninthstreetcapital.com.
About F.N.B. Capital Partners, L.P.
F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the Small Business Administration (“SBA”) as an SBIC. FNBCP, headquartered in Pittsburgh, Pennsylvania, invests $3 million to $10 million per transaction. FNBCP specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital.
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. (“Tecum”) is a private investment firm and management company for F.N.B. Capital Partners, L.P. Tecum, based in Pittsburgh, Pennsylvania, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises.