Gen Cap America Inc has sold Avanti Products to The Legacy Companies. No financial terms were disclosed. Avanti is a provider of compact consumer appliances.
Nashville, Tenn., March 8, 2019 – Gen Cap America, Inc., a private equity firm focused on lower middle market buyouts, announced today that it has sold Avanti Products, LLC (“Avanti”) to The Legacy Companies. Terms of the transaction were not disclosed.
Avanti Products is a market leading designer and distributor of compact consumer appliances, specializing in refrigerators, wine and beer coolers, microwaves, gas and electric ranges, water dispensers, laundry machines and other compact appliances.
“Avanti has been providing quality products at a great value for 45 years,” said Richard Ladd, CEO of Avanti. He continued, “Our partnership with Gen Cap provided us with the resources and support needed to build on our strong foundation and expand both our product line and our customer base. We truly valued our partnership with Gen Cap, and we believe their support was a strong contributor to our growth over the last six years.”
Matt Lane, Managing Director at Gen Cap America, commented, “In the lower middle market, success is as much about partnering with exceptional teams as it is about finding great companies. Richard Ladd and the team at Avanti is a perfect example – they were the cornerstone of Avanti’s achievements during our investment. We are confident they will continue their track record of success going forward.”
Barney Byrd, President of Gen Cap America, stated, “Avanti has been an excellent example of our firm’s long history of teaming with existing management in lower middle market companies.”
About Gen Cap America
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 lower middle market businesses. For more information, visit www.gencapamerica.com.