February 21, 2021 | Bill Esler
ANN ARBOR, MI – American Industrial Partners (AIP), the investment group behind kitchen cabinet and bathroom vanity industry behemoth Cabinetworks Group, is reportedly examining a sale of that business, with a price tag of $3.5 billion, according to insiders. Both Bloomberg Business and Crain’s Detroit Business reported the news, noting neither AIP, based in New York City, nor Cabinetworks Group, based in Ann Arbor, MI, chose to comment on the story.
Armstrong Cabinets was acquired by AIP in 2012, when it was spun off from Armstrong Industries. Required to relinquish the Armstrong name, it was renamed ACProducts. Masco was acquired by AIP in 2019, and the two were combined to form Cabinetworks Group last year. Now owner AIP may be considering selling it for $3.5B Cabinetworks Group is the largest independently owned manufacturer and distributor of cabinets in the U.S., operating 19 manufacturing facilities (examples above and below) drawn from the Masco and Armstrong Cabinets production platform. Service centers are also strategically located through the country.
With so many brands under its offerings, Cabinetworks offers a highly diverse product portfolio of framed and frameless cabinetry that spans the continuum from value-priced options to truly custom. Its business is built on established relationships with buyers at dealers, home centers, and single-family and multi-family home builders. Iconic brands acquired or launched by Masco and Armstrong include Advanta, Cabinets 2000, Cardell, DesignCraft, Echelon, KraftMaid, Master WoodCraft, MasterCraft, Medallion, Merillat, Modico, QualityCabinets, Schuler, Serenade, Smart, Studio Full Access, and Yorktowne.
To further develop its deal relationships, Cabinetworks Group is hosting an ongoing series of online seminars in partnership with Salesforce.com. On February 16, Salesforce presented, “Digital Marketing Consumer Trends,” featuring Lester McHargue, executive strategist, Marketing Cloud.
McHargue focused on how digital marketing is revolutionizing the way consumers shop, and the key types of digital marketing kitchen and bath dealers should adopt. The presentation also covered advanced analytics, digital transformation, and the relationship of Industry 4.0 to product orders and delivery.
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