Private equity firm Quad-C Management of Charlottesville, Va., finalized a deal to buy a majority stake in the Wolf Organization Inc., based in York.
Financial terms of the deal, months in the making, were not disclosed, according to a news release. Gov. Tom Wolf, who was part owner of the company until his election, reportedly no longer has a financial interest in the company.
Quad-C will partner with Wolf management, led by President and CEO Craig Danielson.
“Quad-C stood out in a crowded field of potential investors,” Danielson said. “They have a long history of successful investing in the building products sector and bring an execution-oriented strategic toolkit to help map out and deliver upon key initiatives that will benefit our customers, our suppliers and our employees, while driving sustainable growth to build upon the brand’s strong legacy.”
Tony Ignaczak, president of Quad-C Management, said, “We were drawn to Wolf because we recognized the company’s unique value proposition to its loyal and dedicated dealer network. The Wolf brand is synonymous with quality, and the company’s reputation for integrity and service is unmatched in the industry.”
Thad Jones, a Quad-C partner, added, “We’re backing a management team at Wolf that successfully navigated the company through both good and bad markets to produce a decades-long track record of innovation, customer service and quality. We’re looking forward to partnering with Craig and the rest of the management team to further drive growth through new product development and ongoing geographic expansion.”
Wolf is the largest distributor of kitchen and bath cabinetry in the U.S. and a leading provider of trim, railing, decking, siding and other building products. With more than 250 employees, the company serves more than 3,000 independent dealers in 33 states.
Quad-C is a middle-market private equity firm focused on investing in well-established companies in the fields of business services, consumer products, general industrial, health care, specialty distribution and transportation/logistics, a news release said.