Artisan Design Group, a portfolio company of The Sterling Group, has acquired Wilmington, North Carolina-based Markraft Cabinets LLC, a provider of design and installation services for cabinetry and countertops in North Carolina, South Carolina and Tennessee. No financial terms were disclosed.
SOUTHLAKE, Texas, April 4, 2019 /PRNewswire/ — Artisan Design Group (“ADG”), a portfolio company of The Sterling Group, today announced the acquisition of Markraft Cabinets, LLC (“Markraft Cabinets”). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders.
Headquartered in Wilmington, North Carolina, Markraft Cabinets is a leading provider of design and installation services for cabinetry and countertops in North Carolina, South Carolina and Tennessee. “We are excited to join the ADG family of companies because of our shared entrepreneurial cultures and focus on providing excellent selection and service to customers,” said Joe Jacobus, CEO of Markraft Cabinets.
“We see this expansion into cabinets and countertops, and in particular in the Carolinas and Tennessee, as an integral part of the growing ADG platform. Joe and the Markraft Cabinets team have grown the company into a clear leader in its markets, and we look forward to the many benefits each of our respective businesses will enjoy from being partners,” said Larry Barr and Wayne Joseph, Co-CEOs of ADG.
Headquartered in Southlake, Texas, ADG operates more than 40 distribution, design and service facilities and coordinates installation through over 1,000 independent contractors across 15 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of Markraft Cabinets represents ADG’s tenth acquisition in the past two years. The company continues to seek local and regional market leaders to add to its family of flooring specialists.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 55 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.9 billion of assets under management. For further information, please visit www.sterling-group.com.