Minnesota Tile and Stone Acquired by Capital Equity Firm
Milwaukee, MI, January 16, 2023-Milwaukee private equity firm Borgman Capital has announced its acquisition of Minnesota Tile and Stone (MTS). The company will be merged with Borgman Capital’s portfolio company, K.G. Stevens, acquired in October 2022.
MTS is a 92-year family business. Previous owner and president Alan Dale, who'd been with the company for 50 years, retired effective with the transaction’s completion.
Based in Milwaukee, K.G. Stevens is the largest countertop fabricator in Wisconsin. Jason Gaare was recently hired as president. Gaare joins K.G. Stevens from metal fabricator Super Steel, based in Mequon, Wisconsin, where he most recently served as president after holding various other leadership roles.
The acquisition enables both companies to expand their Midwest footprint and diversify their product offerings, according to a release.
MTS has five showroom locations throughout the Twin Cities.