Salt Creek Makes Strategic Investment Into Essex Coatings + Finishing
Jan. 12, 2022
Woodside, California (January 12, 2022) – Salt Creek Capital (“SCC”) is pleased to announce that it has made an equity investment into Essex Coatings + Finishing, LLC (“Essex” or the “Company”), a leading finisher, wholesaler, and distributor of premium custom private label hardwood flooring. Headquartered in Avenel, NJ, Essex specializes as a value-added finisher and distributor of bespoke wide plank and other high end flooring products. In addition to providing capital and resources to accelerate its growth, two Executive Partners from Salt Creek have joined the full-time management team of Essex at close, Mr. David Rubenstein as CEO and Mr. Jim Jenkins as CFO.
Mr. Josh Feuer, Owner and President of Essex will continue to be the President of the Company and will remain a substantial equity holder. Mr. Feuer stated “I’m incredibly excited to partner with Salt Creek Capital, David Rubenstein and Jim Jenkins to take Essex to the next level. Their expertise will be invaluable in helping Essex expand our capabilities and relationships to accelerate our growth and reach our full potential.”
Mr. David Rubenstein, incoming CEO, added “Josh has built a strong business with a best-in-class reputation for custom private label products. I look forward to working with him and the great employees of Essex to expand sales channels, distribution partnerships, and our product suite.”
Salt Creek Capital’s Managing Director, Bobby Sheth, added, “Essex is a strong brand that is committed to quality and service. They are well positioned for further growth in the Northeast and beyond. We look forward to working alongside Josh, David, Jim and the rest of the team to help lead the Company through its next phase of growth.”
Essex Coatings + Finishing was advised on the transaction by Building Industry Advisors.
Founded in 2004, Essex is a leading finisher, wholesaler, and distributor of premium custom private label hard wood flooring. The Company specializes as a value-added finisher and distributor of custom wide plank and other high end flooring products. The Company is one of the premier custom private label flooring manufacturers in the nation. The Company is headquartered in Avenel, NJ. For more information, please visit www.essexandco.com for additional information.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with up to $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please contact Tyler Romrell at firstname.lastname@example.org or visit www.saltcreekcap.com.