New York, NY, August 8, 2006--Goldsmith Agio Helms has announced the recapitalization of its client, Stanton Carpet Corporation by Linsalata Capital Partners, a middle market-focused buyout firm based in Cleveland, Ohio.
Stanton, based in Long Island, New York, is a leading designer, marketer and wholesaler of branded soft floor coverings for the residential and commercial markets. The Company's extensive product line includes wool and synthetic wall-to-wall carpet, hall and stair runners, area rugs and outdoor carpets sold under the Stanton Carpet and Royal Dutch Carpets brands. Stanton provides its customers a premium product offering with distribution through a diverse base of floor covering showrooms, dealers and selected retail home stores across the U.S.
The transaction partners Stanton with an experienced financial investor with which to continue executing its growth strategy. Stanton plans to pursue myriad product expansion and extension opportunities, continue leveraging its highly scalable operations, further penetrate its extensive, national dealer network, and develop its low cost, high quality Asian sourcing initiative. Following the transaction, Sy Cohen, chief executive officer, and Jonathan Cohen, executive vice president, will retain a significant ownership interest in the company and, along with the rest of senior management, continue to run the business.
Sy Cohen, who founded the company in 1980, said: "We are excited about our partnership with Linsalata and the opportunity to build on our market position as a leader in the premium carpet niche, utilizing our extensive distribution base, product development capabilities and outstanding customer service which have been the platform for growth at Stanton." Jonathan Cohen added that "Linsalata will provide additional resources which will allow us to accelerate our growth strategies."
"Stanton is well positioned for continued growth, with its national reputation, superior and differentiated products, diversified dealer base, and a global manufacturing network with capacity to expand," said Steve Perry, senior managing director at Linsalata. He added, "We look forward to continuing Stanton's growth with initiatives that will include the development of new products, increased penetration of existing and new markets, pursuit of selected acquisitions and broadening our global sourcing."
This transaction represents Goldsmith Agio Helms' 113th transaction in the consumer sector and marks the 11th completed consumer deal in 2006. Joseph Conte, Managing Director and Shareholder, commented that "this transaction provides Stanton with additional resources and an experienced financial partner that will enable the Company to accelerate its strong historic growth". Eric Roth, Vice President, added that "Stanton's exceptionally strong management team and broad array of high quality products form the foundation for continued strong growth."
