Gen Cap America Inc sold OFM LLC, an office furniture distributor based in North Carolina. Cap America acquired OFM in June 2012 with capital from its Southvest Fund VI.
Nashville, Tenn., February 9, 2016 – Gen Cap America, Inc., a leader in the middle-market buyout niche in the Southeast, announced today the company has sold OFM, LLC, after a successful relationship. Gen Cap America acquired OFM in June 2012 with capital from its fund, Southvest Fund VI.
“The relationship between Gen Cap and OFM was very successful for both companies,” said Gen Cap America president and CEO Barney Byrd. “OFM’s reputation for innovation and customer service along with its strong management team, led by CEO Blake Zalcberg, were key factors in Gen Cap’s investment in OFM nearly four years ago, and we believe those same resources will usher in its next successful chapter of growth.”
In 1995, founders Abel and Barbara Zalcberg started the company out of their home in Cary, N.C., and today OFM is a leading designer and distributor of branded office furniture. OFM manufactures, sells and distributes a wide array of office furniture products throughout the United States and Canada. The company offers its customers more than 3,600 product SKUs including such categories as chairs, tables and desks, cubicles, storage, and miscellaneous accessories. The company is headquartered in Holly Springs, N.C., and maintains distribution facilities in Phoenix and Kansas City, Mo.
While terms of the transaction are not publicly available, Gen Cap managing director Matt Lane noted that Gen Cap achieved over a 35-percent annualized return on its 2012 investment in OFM. “The partnership between Gen Cap and OFM ushered in a new level of growth and profitability for the company. OFM is well positioned to continue its product and market expansion strategy under new ownership,” Lane said.
The move continues an impressive run of more than 25 years in which each of the Gen Cap investments has made a profit for investors.
“The collaborative partnership between OFM management and Gen Cap America led to new growth and expansion for the company,” said Zalcberg. “We look forward to continuing that growth with our new partner.”
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established middle-market businesses. For more information, visit www.gencapamerica.com.