Blackford Capital has made an undisclosed investment in Snowhite Textile and Furnishings Inc. West Suburban Bank provided the debt funding. Based in Addison, Illinois, Snowhite is a provider of design, procurement, and project management services for furniture, fixtures and equipment to the hospitality industry.
GRAND RAPIDS, Mich., March 22, 2017 /PRNewswire/ — Blackford Capital, a national private equity firm headquartered in Grand Rapids, Mich., announced its investment in Addison, Illinois-based Snowhite Textile and Furnishings, Inc. (“Snowhite”), a leading provider of design, procurement, and project management services for delivering furniture, fixture and equipment (FF&E) solutions to the hospitality industry. Snowhite is Blackford’s latest investment in its National Growth Practice, which invests in companies throughout the United States. Debt financing was provided by West Suburban Bank.
Founded in 1985, Snowhite began as a towel and linen supplier to local hotels. Since that time, founder Dick Kapadia, who remains involved with the business, has evolved the business model and driven substantial growth. With over 30 years of experience, Snowhite has established itself as a trusted partner for brands such as La Quinta, Choice, Wyndham, and Hilton, among others. Snowhite offers a full suite of services including in-house design, procurement, and project management to support the delivery of furniture, fixtures, and equipment, operating supplies, and other equipment for the hospitality industry.
“Snowhite has a long history of serving the hospitality industry,” said Martin Stein, founder and managing director of Blackford Capital. “Snowhite is known throughout the industry for its quality, customer service, and design capabilities. We see opportunities to leverage these strengths to grow the business and provide superior FF&E products to a broader set of customers. By partnering with the Snowhite team and incoming CEO Greg Kadens, a veteran in the space, we are confident that we can build upon Snowhite’s legacy as a leader in FF&E.”
Snowhite’s team, which includes experienced designers and project managers, operates out of a facility in Addison, Illinois that features model showrooms for customers to view design options. “I am thrilled to be partnering with Blackford Capital and the Snowhite team,” said Greg Kadens, Snowhite’s new CEO. “We expect Snowhite to continue its reputation for strong design capabilities and customer service, and we anticipate that our partnership with Blackford will allow us to expand our team and enhance our product and service offerings. Ultimately, this will allow us to better serve our customers.” Kadens, who has an extensive background in the hospitality industry, joined Snowhite in January.
In addition to Snowhite (Addison, IL), the National Growth Practice, which invests in companies throughout the U.S., currently includes: McClarin Plastics (Hanover, PA), Staging Concepts (Minneapolis, MN), and Key Health (Westlake Village, CA).
About Blackford Capital
Home of the 2016 M&A Advisor Private Equity Professional of the Year, Martin Stein, Blackford Capital is a private equity firm based in Grand Rapids, Michigan, that acquires, manages and builds family-owned, lower middle-market manufacturing, distribution and service companies. Blackford currently has 13 portfolio companies located across the United States and has been recognized as one of America’s fastest growing private companies by Inc. 5000. In 2015, Blackford was recognized by The M&A Advisor with the Deal of the Year Award. For more information, visit www.blackfordcapital.com.
About Snowhite Hospitality
Founded in 1985, Snowhite is a complete solutions provider to the hospitality industry, offering design, procurement, and project management for furniture, fixtures, and equipment (“FF&E”). Headquartered in Addison, Illinois, Snowhite distinguishes itself by offering in-house design services, high quality products, and superior customer service to hotel owners across multiple segments of the industry. To learn more, visit www.esnowhite.com.
About West Suburban Bank
Headquartered in Lombard, Illinois, West Suburban Bank was founded in 1962. West Suburban offers a full suite of commercial and retail banking, mortgage banking, wealth management and trust services to small and medium-sized businesses and individuals. West Suburban prides itself on understanding the needs of its community and customers. For more information, visit www.westsuburbanbank.com.