Mosaic Capital Partners Announces ESOP Acquisition of Custom Profile
April 25, 2019
Mosaic Capital Partners, LLC (“Mosaic”) announced today the ESOP acquisition of Custom Profile Holdings, Inc. (“Custom Profile”, or the “Company”), a designer and manufacturer of premium, plastic profile extruded products for a variety of end markets.
Keith Butcher, the lead partner from Mosaic on the transaction, remarked, “We were consistently impressed, from start to finish, by the culture instilled by the Custom Profile management team. For as deeply invested as they are in their customers and products, they are equally as focused on their community, employees, and overall impact. Everything about them screamed employee ownership from our first interaction.”
John Boeschenstein, CEO of Custom Profile, agreed. “This new partnership with Mosaic is an excellent opportunity for Custom Profile to access the capital necessary to grow while sharing the benefit of that growth with our employees. We look forward to working with Mosaic to continue growing the value of our business for our employee owners.”
Founded in 1992 by Sam Nicholas in Grand Rapids, MI, Custom Profile is a leading manufacturer of plastic profile extruded products primarily for the office furniture, appliance, medical, recreational, and renewable energy end markets. In addition to its two facilities in Grand Rapids, the Company has operated a manufacturing facility in Juarez, Mexico since 2008. Blackford Capital acquired the Company in 2012.
The ESOP provides a substantial retirement benefit to all eligible, full-time employees. Research shows that companies with an ESOP tend to be environmentally conscious, experience less voluntary turnover, and perform better in times of economic downturn.
Stout served as the Company’s financial advisor during the transaction.
About Custom Profile
Custom Profile Holdings, Inc. (“Custom Profile”), is a leading manufacturer of plastic profile extruded products primarily for the office furniture, appliance, medical, recreational and RV industry, and point of-purchase markets. The Company has diverse and flexible manufacturing capabilities with the ability to satisfy a variety of customer demand requirements. For more information, visit www.custom-profile.com.
About Mosaic Capital Partners, LLC
Mosaic Capital Partners, LLC (“Mosaic”) is a private equity firm investing in privately held middle market companies. Based in Charlotte, NC, Mosaic employs private equity buyout strategies that incorporate the partners’ unique expertise in Employee Stock Ownership Plans (ESOPs). Mosaic aims to help business owners achieve liquidity, wealth transfer and ownership transition with its PE-ESOP product.