Home / Knowledge / News / Textiles / Norwest Equity invests in Stanton Carpet Corporation

Norwest Equity invests in Stanton Carpet Corporation

13
Aug '12
Norwest Equity Partners, a leading middle market investment firm, has announced that it has made a significant majority investment in Stanton Carpet Corporation, (“Stanton” or the “Company”), a leading distribution company offering a variety of decorative high quality, branded soft floor covering products for the residential market.

Founded in 1980 by Sy Cohen, Stanton was built on the mission to create a brand synonymous with style and value for the decorative market. The Company has achieved that mission with what is recognized today as one of the nation's leading distributors of decorative, high-quality branded carpet and custom rugs.

Offering award-winning brands, including Stanton Carpet, Royal Dutch Carpets, Antrim, and Rosecore, Stanton maintains an active base of more than 3,500 customers comprised of independent retail floor showrooms, architecture and design firm showrooms, and catalog and internet retailers.

Todd Solow, NEP Partner and Stanton board member, stated, “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. 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 in the distribution sector. On behalf of the Stanton team, we look forward to working closely with NEP,” stated Sy Cohen, Stanton Founder and Chief Executive Officer.

Jonathan Cohen, Stanton President and Chief Operating Officer, stated, “Stanton prides itself on providing value across the board. 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. We look forward to achieving continued growth with NEP as our investment partner.”

Norwest Mezzanine Partners provided the mezzanine financing for this transaction, and additional financing was provided by GE Antares Capital, PNC Capital Markets, and NXT Capital.

Employing more than 100 people, Stanton is headquartered in Syosset, New York and has a distribution facility in Calhoun, Georgia.

Norwest Equity Partners


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2021

US FTC votes to reverse course on repeal of fabric care labels

The US Federal Trade Commission (FTC) recently voted to retain the...

Pic: UKFT

Textiles | On 4th Aug 2021

UKFT to design & pilot new platform to drive sustainability in fashion

The UK Fashion & Textile Association (UKFT) has started working with...

Pic: Kontoor Brands/Wrangler

Apparel/Garments | On 4th Aug 2021

US’ Kontoor aims for sustainable growth with diversity & inclusivity

Kontoor Brands, an American apparel company with denim brands like...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search