SYOSSET, N.Y.–Norwest Equity Partners, a Minneapolis-based middle market investment firm, has made a majority investment in Stanton Carpet Corporation, Stanton said today.
As part of the deal, Stanton’s team will continue to lead and operate the business from its Syosset, N.Y. and Calhoun, Ga.-based facilities. Stanton said the affiliation with Northwest Equity Partners is a “strategic partnership based on long-term growth plans for the company.” Company principals Jonathan and Sy Cohen and other management team members have also made investments in the company.
“Our ability to consistently offer premium products with rapid order fulfillment is driven by our knowledge about customer needs, our strong supplier relationships, strategic inventory management, and highly efficient distribution capabilities,” said Jonathan Cohen, chief operating officer. “We look forward to achieving continued growth with NEP as our investment partner.”
“Stanton is a great fit with NEP’s investment strategy in the distribution industry, and we believe it is an excellent time to invest in the company as it should benefit from the improving health of the housing and renovation market,” said Todd Solow, NEP partner and a Stanton board member. “Stanton provides tremendous value to its customers by providing excellent customer service and a differentiated sales and distribution model. With a proven track record of introducing new products and entering new markets, Stanton is well-positioned to grow, expand and gain market share.”
“As a 30-year old family-owned business, our investment partnership with NEP marks an exciting time for Stanton. NEP has tremendous experience with investing in family-run businesses as well as significant industry expertise and resources within the distribution sector. On behalf of the Stanton team, we look forward to working closely with NEP,” said Sy Cohen, founder and CEO.