Center Rock Capital Partners and Leelanau Private Capital have acquired Medford, New York-based Eastern Wholesale Fence, a provider of commercial and residential fence products. The seller was Corinthian Capital Group. No financial terms were disclosed.
NEW YORK, Nov. 5, 2020 /PRNewswire/ — Corinthian Capital Group, LLC (“Corinthian”), a middle-market private equity firm, announced today the sale of Eastern Wholesale Fence to Center Rock Capital Partners and Leelanau Private Capital.
Founded in 1971, Eastern Wholesale Fence, LLC (“Eastern”) is an extruder, manufacturer, and distributor of commercial and residential fence products headquartered in Medford, NY. Eastern recently announced plans to establish a new manufacturing facility in Salisbury, NC.
Eastern was a family-owned business when Corinthian invested in the company in 2017. Peter Williams, Jr., who is the son of the founder of the business, will continue as CEO under the new ownership.
“We are pleased that Corinthian could provide the strong management team at Eastern with the resources and expertise to grow the business from a respected regional player to an industry leader,” said Kenneth Clay, Founder and Partner at Corinthian. “Over the past three and a half years, the Company experienced strong organic growth while introducing new quality products and integrating new manufacturing processes. We were fortunate to have been able to partner with Peter and his team, and are proud of the work the Corinthian team was able to provide, and the successful outcome that we achieved together.”
“My father started Eastern 50 years ago, and I’m proud of the company we built,” said Mr. Williams. “The Corinthian team was able to build on our long history of success, facilitate a generational transition in ownership and management, and transition our successful family business into a national player. I appreciate their help in growing our business while preserving our values and culture.”
Lincoln International and Raymond James advised Corinthian and Eastern on the sale, with Clifford Chance US LLP providing legal counsel.
Corinthian Capital was founded in 2005 with the conviction that the best opportunities for building value continue to occur in the North American mid-sized company market. The firm targets investments in small and middle market companies located in primarily in North America with EBITDA between $5 million and $30 million. The firm’s professionals specialize in working with founders and management teams to assist companies in realizing their untapped potential. To learn more, please visit our website at www.corinthiancap.com