High Road Capital Partners has completed its buy of York Wallcoverings Inc. Financial terms were not announced. York, Pennsylvania-based York Wallcoverings makes wallpaper, borders, murals, and RoomMates peel-and-stick removable and reusable wall decals. U.S. Bank and M&T Bank provided senior debt financing, while Babson Capital Management supplied the subordinated debt. Mufson Howe Hunter & Company provided financial advice to York.
High Road Capital Partners (www.highroadcap.com) has completed the acquisition of York, Pennsylvania-based York Wallcoverings, Inc. (www.yorkwall.com), marking High Road Capital Partners Fund II’s fourth platform acquisition.
Founded in 1895, York Wallcoverings is a leading manufacturer of wallpaper, borders, murals, and RoomMates peel-and-stick removable and reusable wall decals. York’s portfolio of globally recognized proprietary and licensed brands includes Antonina Vella, Ashford House, Candice Olson, Carey Lind, Ronald Redding Designs, Waverly, and York.
York Wallcoverings’ products are sold through an extensive network of interior design firms and domestic and international distributors, and in online, specialty and big-box retail stores. The company sells its residential and commercial products in more than 85 countries with a market leadership position in North America and an expanding presence across Asia, Europe, Latin America and the Middle East.
“York Wallcoverings has a strong competitive position, backed by 120 years of operating experience and expertise,” said Jeff Goodrich, High Road Partner. “Prospects are strong for the commercial and residential wallcovering markets, marked by an uptick in remodeling and new construction spending. York has many opportunities for growth, both organic and through acquisition or expansion into related product lines, and we are excited to partner with their exceptional management team.”
High Road Principal Dan Gaspar added, “York’s extensive manufacturing capabilities and printing technologies are unmatched in the industry. York uses rare and historic printing presses to achieve unique designs, as well as state-of-the-art presses and digital printing technologies. These are crucial to delivering high-end, innovative stylings and customizable products to customers.”
Carl Vizzi, President and Chief Executive Officer of York Wallcoverings, said, “For over a century, York has provided its customers with market-leading design capabilities and exceptional products, reflected in our portfolio of 15,000 wallpapers, with more than 5,000 proprietary designs and well-respected brands. We look forward to working with High Road and continuing the company’s successful expansion.”
High Road’s acquisition of York Wallcoverings closed on March 4, 2015. Mr. Vizzi will continue to lead the company post-closing. He and other members of York’s senior management team invested in the transaction alongside High Road. Jeff Goodrich and Dan Gaspar led the transaction for High Road, assisted by Jerry Anderson and James Karle. U.S. Bank and M&T Bank provided senior debt financing for the transaction. Babson Capital Management provided subordinated debt and also invested equity alongside High Road. Transaction consideration was not disclosed.
Mufson Howe Hunter & Company initiated the transaction and acted as the exclusive financial advisor to York Wallcoverings.
High Road has completed 35 transactions, comprising 31 acquisitions – 13 platform investments, 18 add-on acquisitions – and four exits since its founding in 2007.
For further information, please contact Jeff Goodrich, High Road Partner, at (212) 554-3268.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $470 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
York Wallcoverings, Inc.
York Wallcoverings, founded in 1895, is a leading global manufacturer of residential and commercial wallpaper, as well as peel-and-stick removable and reusable wall decals. York products are available in retail stores, online, and through interior design firms and domestic and international distributors in more than 85 countries. Headquartered in York, Pennsylvania, York Wallcoverings is the oldest and largest wallcovering manufacturer in the United States, crafting wallpapers from the same factory location in the historic and picturesque Susquehanna Valley since its founding, and a second factory, also in York. More information on York Wallcoverings may be found on its website, www.yorkwall.com.
Mufson Howe Hunter & Company LLC
Mufson Howe Hunter, an investment banking firm established in 2004, focuses on merger & acquisition services and the placement of growth capital for middle market companies. We primarily focus on business services, consumer & retail, specialty distribution & manufacturing, life science tools & services, financial institutions and environmental services & cleantech industries. Mufson Howe Hunter advises public and privately-held companies with a particular emphasis on family and closely-held businesses. Broker-dealer services offered through Mufson Howe Hunter & Partners LLC, Member FINRA /SIPC, www.mhhco.com.
# # #