NEW CANAAN, Connecticut, October 2013 — Executive Cabinetry, LLC, a Gridiron Capital, LLC portfolio company, announced today it has closed on the acquisition of Tedd Wood, Inc.
Tedd Wood is a leading manufacturer and finisher of high-end custom and semi-custom cabinetry. Over the past 20 years, Tedd Wood has established a first class reputation for quality, product selection and great customer service within its vast dealer network. Tedd Wood will continue to operate out of its current manufacturing facility in Thompsontown, Pennsylvania.
“Tedd Wood is a terrific addition to the Executive umbrella,” said Gridiron Capital’s Managing Partner, Tom Burger. “Tedd Wood has a reputation for premium products and top notch customer service. We look forward to partnering with Matt and Ted Pannebaker and the rest of the management team to bring the Tedd Wood brand into new markets.”
“We are thrilled to have the opportunity to partner with Tedd Wood,” said Executive’s Chief Executive Officer, Dave Romeo. “Tedd Wood is a first class brand, with a highly skilled management and factory team, and one we believe has significant potential throughout North America.”
“It has been a gratifying experience to grow the Tedd Wood brand from scratch with our excellent team,” said Matt Pannebaker, President and Co-Founder of Tedd Wood. “When we first discussed a partnership with Executive, we immediately saw the value in joining forces. Executive is an ideal partner, and I look forward to working closely with Dave and Gridiron to take both our companies to the next level.”
About Tedd Wood, Inc.:
Tedd Wood, Inc., headquartered in Thompsontown, Pennsylvania, was founded by Matt Pannebaker and Ted Pannebaker in 1994. The company manufactures custom and semi-custom premium cabinets under the Tedd Wood Custom, Vision Collection and Value Plus brand names. With over 60 years of cabinet manufacturing experience, the founders, along with a collection of skilled craftsmen, have a track record of delivering some of the finest custom and semi-custom cabinetry in the eastern United States. Tedd Wood is dedicated to environmental stewardship and has a complete line of green custom cabinetry. Additional information is available on the company’s website at www.teddwood.com.
About Executive Cabinetry, LLC:
Executive Cabinetry, LLC, headquartered in Simpsonville, South Carolina, manufactures custom and semi-custom kitchen and bathroom cabinetry that is sold under the Executive Cabinetry, Bellini Collection and Designer Series of Finishes brand names with an extensive range of both stock and custom Vogue Veneers. The Company’s products include kitchen and bath cabinetry, custom accent pieces such as wood hoods, and a full range of accessories such as moldings, trims, posts and turnings. Products are offered in a range of popular wood species in a wide variety of waterborne, environmentally friendly stained and painted finishes. Executive Cabinetry is an industry leader in environmental stewardship. It offers cabinetry using formaldehyde-free adhesives and woods certified by the Forest Stewardship Council (FSC), enabling its customers to qualify for projects certified as LEED-compliant by the U.S. Green Building Council (USGBC). Executive Cabinetry is the only GREENGUARD Certified residential kitchen and bath cabinetry manufacturer in the United States. Additional information is available on the company’s website at www.executivecabinetry.com.
About Gridiron Capital, LLC:
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available on the firm’s website at www.gridironcapital.com.