WILsquare Capital has acquired Denver-based Cartwright Distributing LLC, a provider of flooring products. Also, WILSquare has formed Crown Products Inc, which is comprised of Cartwright Distributing and current WILsquare Capital portfolio company Walcro. No financial terms were disclosed.
ST. LOUIS–(BUSINESS WIRE)–WILsquare Capital, a St. Louis-based private equity firm, announced today it has formed Crown Products, Inc. and completed the acquisition of Cartwright Distributing, LLC, a leading distributor of flooring products based in Denver, CO. Terms of the transaction were not disclosed. Crown Products is comprised of Cartwright Distributing and current WILsquare Capital portfolio company Walcro.
“WILsquare Capital is extremely pleased to have built a relationship with Bill and Ben Cartwright over the past two years, allowing us to appreciate the legacy they have created over the past 33 years, as well as their vision for continued growth,” said Jamie Wilmsen, Partner at WILsquare Capital. “Cartwright’s longstanding relationships with market-leading product manufacturers and its ‘customer first’ dedication allow the Company to deliver an unrivaled combination of product, knowledge and service to its customers.”
Founded in 1986, Bill Cartwright, along with his son, Ben, and other senior members of management, have established Cartwright as the premier provider of flooring solutions in Colorado and surrounding states. A strong culture of dedication and success permeate throughout the organization and are the foundation of its customer service and delivery model.
“We are very appreciative of the trust Bill and Ben Cartwright, along with the Cartwright management team, have placed in us to execute Cartwright’s next stage of growth,” said John DeYoung, CEO of Crown Products, Inc. “WILsquare Capital’s investment in Cartwright and Walcro, under our Crown Products platform, establishes an unparalleled reach across the Upper Midwest and Rocky Mountain regions. We look to continue to support these investments with additional product and operational resources, as well as additional locations to better serve our expanding customer base.”
“We are excited for our partnership with Walcro and WILsquare Capital. Walcro is a like-minded company with the same values, ethics, and aspirations as Cartwright Distributing. Our companies are a natural fit,” said Ben Cartwright. “We are excited for the growth opportunities these new relationships will make available to us, including growing our product offering and geographical footprint. While maintaining separate and distinct market and brand identities in our regions, the combination of Cartwright Distributing and Walcro will give us increased opportunities to work collectively to enhance our value with our customers and vendors, each with a market-focused approach.”
About WILsquare Capital
WILsquare Capital is a St. Louis-based private equity firm focused on acquiring and growing lower-middle market businesses in the Midwest and Southern United States, with an emphasis on business services, niche manufacturing, distribution and technology companies. The firm is currently investing out of WILsquare Capital Partners Fund I, L.P and WILsquare Capital Partners Fund II, L.P.