JD Ford & Thomas Named Finalist for Deal Maker Awa
Denver, CO, December 8--The M&A Advisor, a source for competitive intelligence on middle market Merger and Acquisition industry, announced that Thomas Industries, LLC, a company formed by JD Ford & Company, of Denver, has been selected as one of the three finalists for the "Manufacturing Industry Deal Maker of the Year."
The M&A Advisor selected 57 finalists in 17 different categories in the middle market M&A industry's version of "The Academy Awards." The winners will be announced at a black-tie awards dinner on Monday, December 13th at The New York Athletic Club in New York City.
JD Ford & Company, together with a group of Denver investors, created Thomas Industries, LLC to acquire the assets of Superior Yarn Technologies, LLC and Mattel Carpet & Rug, Inc. from the Thomas family of Dalton, GA. Thomas Industries simultaneously acquired the carpet business of Burlington Rug, as its first strategic add-on acquisition. The combined enterprise, headquartered in Dalton, Georgia, the "Carpet Capital of the World," brought together three separate businesses to form a fully integrated manufacturer of broadloom carpets, with 2005 revenues expected to exceed $100 million.
Joseph Durnford, chairman, JD Ford & Company and Thomas Industries, commented that the key to completing the transactions was the personal rapport and trust that developed between the parties, which allowed JD Ford to work directly with the seller to accomplish the Thomas family's objectives, while at the same time negotiating a transaction that was highly favorable to Thomas Industries' investors.
Bank of America Business Capital provided a $48 million senior credit facility to fund the acquisition and provide working capital to Thomas Industries.
JD Ford Holdings Co, dba JD Ford & Company, is a specialized investment firm focused on privately held middle market companies in the manufacturing, distribution, business services and specialty retail sectors. The Denver, Colorado based firm is involved in business development and merger and acquisition transactions throughout the United States. (www.jdford.com)
Thomas Industries, LLC is comprised of five divisions: 1) Superior Yarn -- an extruder and developer of innovative solution dyed yarns for internal use and for sale to smaller carpet manufacturers that lack yarn extrusion capabilities; 2) Mattel Carpet & Rug -- a leading manufacturer of broadloom carpet for a variety of niche markets, including automotive aftermarket products, walk-off mats and multi-family housing; 3) Templeton Carpet Mills (www.templetoncarpet.com), a premier supplier of carpet to the hospitality industry, with prestigious clients throughout the United States; 4) Monticello Floors, a provider of carpet to prominent regional and national home centers; and 5) IBA, a provider of carpet to both domestic and international independent carpet retailers.
