Graycliff Partners said Wednesday it provides a loan to support Founders Equity’s recapitalization of Stone Source. Financial terms weren’t announced. New York City-based Stone Source sells stone and decorative products to consumers and contractors via the architect and design channel for commercial and high-end residential use.
NEW YORK–(BUSINESS WIRE)–Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, today announced it has provided subordinated debt financing to Stone Source, a supplier of natural stone and other decorative surface products including porcelain and glass tile, engineered stone and reclaimed wood. Graycliff’s investment in Stone Source supported a recapitalization of the business by Founders Equity.
Headquartered in New York City, Stone Source sells stone and decorative products to consumers and contractors via the architect and design channel for commercial and high-end residential use. The company has a nationwide presence, with operations in New York, New Jersey, Massachusetts, Illinois, Washington, DC, Texas and California.
“Stone Source’s reputation for excellence, expansive product line and long-term customer relationships have positioned the company as a premier operator in the Architecture and Design market,” said Steve Hindmarch, Managing Director, Graycliff Partners. “Graycliff Partners is excited to work with Stone Source’s management to support the company’s continued success.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, dividend recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.