Peak Rock Capital Acquires Koroseal Interior Products, LLC
AUSTIN, Texas, March 17, 2014-- An affiliate of Peak Rock Capital ("Peak Rock"), an Austin, Texas based private equity firm, announced today that it has acquired the interior products division of RJF International Corporation, creating Koroseal Interior Products, LLC ("Koroseal" or the "Company"), a leading manufacturer and distributor of custom interior products whose offerings are sold globally to more than 10,000 active clients through a dedicated in-house distribution network.
Headquartered in Fairlawn, Ohio, Koroseal leads the market with one of the broadest product lines in the industry and a strong reputation for custom products with diverse styles, designs and textures. The Company's core product portfolio of commercial wallcoverings, wall protection systems and dry-erasable wallcoverings includes some of the most recognized and highest quality brands in the market, such as Koroseal®, a top selling global brand of commercial wallcoverings, Vicrtex®, Korogard® and Walltalkers®. Koroseal's products are utilized by interior designers, architects, contractors and corporations, and are primarily featured in the hospitality, healthcare, corporate, retail, and education markets.
Anthony DiSimone, CEO of Peak Rock Capital, said, "Koroseal represents an exciting opportunity for us to invest in a best-in-class manufacturing and distribution business that can benefit from our resources and strategic support in positioning the Company for outstanding growth. Our acquisition of Koroseal also highlights our continued focus on investing in middle-market building products businesses and carve-out transactions."
Robert Strauss, Managing Director of Peak Rock Capital, added, "Koroseal's design and manufacturing expertise, in-house distribution network and unmatched customer service have allowed it to build strong and deep relationships with key decision makers throughout the commercial construction and renovation industry. We are excited to partner with Koroseal's experienced management team to utilize these strengths in rapidly growing the Company through organic initiatives and potential strategic add-on acquisitions."
Rich Runkel, CEO of Koroseal, commented, "Having just celebrated our 25th anniversary, I am very proud of all that we have accomplished as a company. As we move forward as Koroseal Interior Products, LLC, I am pleased to partner with Peak Rock to leverage their strategic and operational expertise to help guide us to the next level of success. The management team looks forward to continued growth in partnership with our customers, suppliers and employees."
ABOUT KOROSEAL INTERIOR PRODUCTS, LLC
Koroseal Interior Products, LLC is a leading manufacturer and distributor of custom interior products, sold globally through a dedicated in-house distribution network. The Company's core product portfolio includes commercial wallcoverings, wall protection systems and dry-eraseable wallcoverings in addition to an expanding line of related interior finishes. Koroseal is headquartered in Fairlawn, OH with manufacturing operations in the U.S. and sales offices globally. For further information about Koroseal, please visit: www.koroseal.com.
ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is an Austin, Texas based private equity firm that makes debt and equity investments in middle market companies. Peak Rock invests in companies where it can support senior management in driving rapid growth and profit improvement through operational and strategic changes. Peak Rock's principals have deep expertise in complex situations, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.
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