Contrax Furnishings LLC, a Gainesville, Fla.-based provider of furniture for educational and institutional markets, has raised an undisclosed amount of private equity funding from Hudson Ferry Capital.
Hudson Ferry Capital is pleased to announce that it has made an investment in Contrax Furnishings, LLC. Contrax (www.contrax.com) was established in 1967 and is headquartered in Gainesville, FL. The company is a full service provider of classroom, technology and administrative furniture for educational and institutional markets. Contrax provides design, consulting, project management, and installation services to public and private schools, colleges and universities. William I. Latham III, CEO, and John G. Crawford, President, acquired the business in 2001. Since that time, Messrs. Latham and Crawford have successfully executed a geographic expansion of the company’s business to more than 20 major markets across the country.
“We are delighted to partner with the professionals at Hudson Ferry Capital. They bring a wealth of experience and business acumen from having worked with dozens of companies over the past 25 years. We look forward to having them assist in growing our business,” said Bill Latham, CEO.
Concurrent with HFC’s investment, Carl Hedlund has been appointed to the new role of Chairman of the Board. Mr. Hedlund is an Operating Partner at Hudson Ferry Capital, following a long, distinguished career at Owens Corning Fiberglass and Fortune Brands, where he was most recently CEO of Therma-Tru Doors.
“Contrax Furnishings has developed a unique model in the school furnishings sector. We believe that our capital, combined with an execution strategy developed jointly with Bill and John, will enable the company to expand its market share in the next few years, resulting in significant sales and profitability growth,” said Mark Deutsch, an HFC Partner.
About Hudson Ferry Capital:
Hudson Ferry Capital (www.hudsonferry.com) is a New York-based private equity firm that specializes in investing in lower middle market companies. The firm partners with entrepreneurial owners and managers of established privately-owned companies that are differentiated through product or process innovation. The principals of Hudson Ferry have invested in 27 companies that participate in industries such as: building products, janitorial and sanitary supply, niche manufacturing, business services and outsourcing. As a trusted financial partner, Hudson Ferry can provide liquidity to current owners, provide capital to execute a growth strategy, and assist in transitioning an organization from a smaller or regional family-owned business into a larger, integrated enterprise.