The Olon Group Inc., a platform acquisition company focused on the office furniture and consumer cabinet markets, has acquired Creative Products Inc., a Canadian maker of profile-wrapped components. No financial terms were disclosed. Olon Group is sponsored by Huron Capital Partners.
Huron Capital Partners announced today that The Olon Group, Inc. (“Olon”), its platform company in the office furniture and consumer cabinet markets, has acquired Creative Products, Inc. (“Creative”). Terms of the transaction were not disclosed. The transaction marks the 9th transaction closed by Huron Capital in 2008.
Founded in 1982, Creative is a manufacturer of profile-wrapped components primarily serving the US consumer furniture and commercial office furniture markets. With manufacturing operations in Jeffersonville, Indiana, Creative manufactures products similar to Olon’s profile-wrapped moldings, but with an emphasis on larger components and highly unique, customized applications. Headquartered in Georgetown, Ontario, Olon is one of the leading designers and manufacturers of drawer components, profile-wrapped moldings, edge treatments and decorative laminate products for the North American furniture, residential remodeling and cabinet-making industries. Olon sells its products primarily to Canadian and United States office furniture, consumer furniture, and cabinetry OEMs, wholesalers and distributors. Olon operates out of plants in Ontario, Indiana and Illinois.
Michael R. Beauregard, a Partner at Huron, stated, “the Creative acquisition is highly strategic to Olon and provides a compelling upside opportunity through improved manufacturing processes, a renewed focus on sales and marketing, and leveraging both companies’ accounts for new sales opportunities. The transaction materially deepens Olon’s product offerings in the US. We expect to support additional business acquisitions for Olon in the coming months as we aggressively drive our Buy & Build approach for this investment platform.”
About Huron Capital Partners LLC
Huron Capital is a leading private equity firm investing in lower middle-market companies. The firm typically invests between $10 million and $70 million in equity to sponsor buyouts, growth initiatives, corporate spin-offs and recapitalizations of growth-oriented niche manufacturing, specialty service, and value-added distribution companies having revenues up to $200 million. Huron’s strategy is to combine its operational approach, capital and transaction experience with proven management teams who have the vision, experience and commitment to grow their businesses.
Since its founding in 1999, Huron has acquired or invested in 42 companies with aggregate revenues exceeding $900,000,000. Investments have been made in a variety of areas, including print solutions & document management, education, healthcare products & services, specialty chemicals, specialty packaging, consumer products, home decor, passenger transportation services, building products, office furniture components and laboratory testing. Huron Capital currently manages over $600 million in committed equity through three private equity funds, and has consistently generated top-quartile returns for its limited partners. For more information, please visit us at www.huroncapital.com.