Industrial Opportunity Partners sells E.B. Bradley Company

Industrial Opportunity Partners has sold portfolio company E.B. Bradley Company to an affiliate of PSP Capital Partners. The divestiture represents IOP’s fifth investment realization from its initial $185 million committed fund. E.B. Bradley is a West Coast distributor of cabinet hardware, laminates and surfacing products, board products, edgebanding, and woodworking supplies, as well as a manufacturer of laminated panels, serving the commercial construction and residential renovation markets.

PRESS RELEASE

Operations-focused private equity firm Industrial Opportunity Partners (“IOP”) of Evanston, Ill., today announced that it has completed the sale of portfolio company E.B. Bradley Company (“E.B. Bradley” or the “Company”) to an affiliate of PSP Capital Partners, LLC (“PSP Capital”), a Chicago-based private investment firm with a long-term approach and a significant capital base. The divestiture represents IOP’s fifth investment realization from its initial $185 million committed fund.
E.B. Bradley is a West Coast distributor of cabinet hardware, laminates and surfacing products, board products, edgebanding, and woodworking supplies, as well as a manufacturer of laminated panels, serving the commercial construction and residential renovation markets. Operating from an established network of 11 facilities located in California, Oregon, Washington and Arizona, E.B. Bradley and its manufacturing subsidiary, West Coast Laminating, serve over 14,000 active customers, providing value-added services and next-day delivery of a broad array of premium branded products.
IOP Operating Principal John Colaianne served as E.B. Bradley’s Chairman of the Board and provided strategic oversight from IOP’s investment in January 2009 through the sale. Mr. Colaianne commented, “Through the leadership and dedication of the Company’s outstanding management team led by President Don Lorey, E.B. Bradley has continuously improved its product quality and availability and shown an unwavering commitment to customer service. Through its continued focus on customer and supplier relationships, E.B. Bradley has exhibited substantial growth in the past few years and is positioned well for the future.”
Ken Tallering, a Senior Managing Director of IOP, added, “IOP’s investment in E.B. Bradley was very successful, and IOP would like to thank Don Lorey and the E.B. Bradley management team for their success in creating value in the business. We believe PSP Capital’s industry experience and long-term investment strategy suits the Company well, and IOP expects the Company to continue to grow and thrive under PSP Capital’s ownership.”
McDermott Will & Emery provided legal representation to IOP in connection with the sale transaction.
About E.B. Bradley Co.
E.B. Bradley is a West Coast distributor of cabinetry hardware, laminates and surfacing products, board products, edgebanding, and woodworking supplies, as well as a manufacturer of laminated panels, serving the commercial construction and residential renovation markets. The Company operates from an established network of 11 facilities located in California, Oregon, Washington and Arizona. For more information, visit E.B. Bradley’s website at www.ebbradley.com.
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About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $460 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.
About PSP Capital Partners, LLC
PSP Capital Partners, LLC is a private investment firm founded by Penny Pritzker, who currently serves as the United States Secretary of Commerce. PSP Capital takes a long-term, fundamental approach to investing with partners who share its core values of integrity, discretion and candor. With a perpetual and significant capital base, PSP partners with like-minded, dynamic business owners, management teams, and entrepreneurs in a variety of strong businesses and growing industries. PSP’s founder and principals have a strong legacy and long history of owning and building businesses and its organization is differentiated by a significant and permanent capital base, speed and certainty of closing transactions, flexibility with respect to investment structures and a deep network of strategic resources.

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