Rock Hill Recaps Kiva Kitchen & Bath

Rock Hill Capital said Monday that it has recapped Kiva Kitchen & Bath. Financial terms weren’t announced. Houston-based Kiva, which resells and installs high-end household appliances, plumbing fixtures, hardware, countertops and cabinets. Annual revenues were about $80 million in 2010. Rock Hill, also of Houston, invests in middle market companies with enterprise values up to $75 million.

PRESS RELEASE

Rock Hill Capital Group, LLC (“Rock Hill”) today announced that it has completed a recapitalization of Kiva Kitchen & Bath Holdings, LLC (“Kiva”), a leading re-seller and installer of high-end household appliances, plumbing fixtures, hardware, countertops and cabinets. Kiva is headquartered in Houston, TX and sells through 12 showrooms located throughout Texas and Southern California.
Kiva was founded by Tolar N. Hamblen and James A. Cozby in 1998 and has grown through acquisition of local appliance retailers and organically by establishing long-term relationships with local builders/developers, architects and interior designers. Kiva’s annual revenues were approximately $80 million in 2010.

“We are pleased that Tolar and Jim selected Rock Hill as their new equity partner,” said Randall B. Hale, Founder and Managing Director of Rock Hill Capital Group. “Tolar and Jim represent exactly what we look for in a partner, seasoned operators with a proven track record of success in building a business. Kiva is well positioned to take advantage of what we believe to be improving economic conditions in the residential housing and multi-family market sector. We are excited to have the opportunity to be a part of Kiva’s continued growth and success.”

“We look forward to our partnership with Rock Hill,” said Mr. Hamblen. “Rock Hill has a keen understanding of the distribution industry and Kiva’s opportunities for growth. Rock Hill has a proven track record of helping companies expand and they share our philosophy of building long-term relationships with their business partners.”

Kiva and Rock Hill plan to expand the business primarily through organic growth in their key markets and through selective acquisitions. Further information about Kiva may be found at www.kivahome.com.

About Rock Hill Capital Group

Founded in 2008, Rock Hill Capital Group, LLC (www.rockhillcap.com) is a private equity firm that targets investments in growing middle to lower middle market companies with enterprise values up to $75 million. Rock Hill seeks to assist successful entrepreneurial companies located in the southern United States to continue to grow and expand their business. Currently, Rock Hill has $50 million of committed capital under management through Rock Hill Capital I, L.P. Other portfolio companies include SouthWaste Holdings, LLC (www.southwaste.com), Applied Global Technologies, Inc. (www.appliedglobal.com) and Blackhawk Specialty Tools, LLC (www.blackhawkst.com).