LongWater Opportunities sells portfolio companies San Benito Shutter and Lewis Cabinet Specialties
LONGWATER OPPORTUNITIES SELLS PORTFOLIO COMPANIES SAN BENITO SHUTTER AND LEWIS CABINET SPECIALTIES
Dallas, TX – LongWater Opportunities is pleased to announce the sale of two of its portfolio companies, San Benito Shutter and Lewis Cabinet Specialties, to Monument Microcap Partners.
San Benito Shutter (SBS), founded in 1991 in Hollister CA, is a distributor of premium plantation shutter components sold into the residential and commercial window covering markets. With four distribution centers across the Sunbelt states and its own fleet of delivery vehicles, SBS has grown to become the largest distributor of plantation shutters in the United States.
Lewis Cabinet Specialties (Lewis), founded in 1990 in Tremonton, UT, is a manufacturer of custom cabinet components sold into to residential and commercial cabinet installation markets. Embracing technology and automation has enabled Lewis to offer industry-best lead times and a superior online experience for its customers, which management credits for the rapid growth of the business.
Jordan Bastable, who led the transaction for LongWater said, “We are honored to have partnered with the management teams at both SBS and Lewis, who built their companies to each become formidable players in the building products industry. We wish the best success to all our friends at SBS, Lewis, and the entire Monument organization.”
Art de St. Aubin, President and CEO of SBS said, “LongWater is a true testament of partners aligning with a company's personnel and culture to enable transformational change. Their steady commitment to our differentiated strategy resulted in double digit annual growth over the three years leading up to our successful exit. I cannot say enough about the respect and appreciation I have for the LongWater team.”
TM Capital served as exclusive financial advisor to LongWater Opportunities in connection with this transaction. Chris Converse with Foley & Lardner LLP served as our exclusive legal advisor.
About LongWater Opportunities
LongWater Opportunities is an operationally focused private equity firm targeting control equity investments in family-owned and operated, American manufacturing companies. Founded in 2009, LongWater has completed eleven acquisitions to date and recently closed its third fund. With offices in Dallas, TX and Fargo, ND, we maintain an active presence across the Midwestern United States. We align ourselves with those who seek an operating partner who will share their passion and commitment to building a great organization.