SANTA MONICA, Calif. and DALLAS, Nov. 24, 2020 /PRNewswire/ -- Clearlake Capital Group, L.P. (together with certain of its affiliates, "Clearlake") today announced it has signed a definitive agreement to acquire TKE Holdings, Inc., dba Dimora Brands ("Dimora Brands" or the "Company"), a leading provider of branded specialty hardware and home accessories, from affiliates of The Jordan Company. Financial terms of the transaction were not disclosed.
Dimora Brands, a Dallas-based designer, manufacturer and seller of high-end hardware and home accessories, was created in 2010 by the merger of Top Knobs and Hardware Resources. Since then, the Company has become an industry leader by delivering a premium product offering that appeals to a diverse set of aesthetic styles and price points. Dimora Brands achieved its strong reputation through consistent successful launches of new kitchen and bath decorative and functional products, as well as through acquisitions of other leading companies with complementary product lines. Underlying the Company's significant track record of excellence is a robust logistics operation that delivers over 29,000 SKUs across the United States.
"We are excited to partner with Clearlake and are thankful for The Jordan Company's support over the last four years," said Greg Gottlieb, CEO, Dimora Brands. "Our robust operating model and sourcing infrastructure have positioned Dimora Brands to become the leading provider of specialty hardware and home accessories. We believe that Clearlake's deep experience in building products distribution and operational insights will advance the Company into its next chapter of continued success."
"We are thrilled to back Dimora Brands and leverage our significant experience investing in building products," said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, Clearlake. "We are confident that the Company is well-positioned to capitalize on the strong momentum in home improvement spend and remodeling activity. We look forward to leveraging our O.P.S.® framework in partnership with management to accelerate Dimora Brands' organic growth plans and continue executing a consolidation strategy in this highly fragmented market."
The Company was advised by Baird, and Clearlake was advised by Deutsche Bank.
ABOUT DIMORA BRANDS
Dimora Brands operates the leading brands in cabinet hardware, door hardware, faucets, accessories, and related products. Its two operating divisions, Top Knobs and Hardware Resources, are known for the industry's best product offering and service. Each of Dimora Brands' divisions proudly serves kitchen cabinet dealers, kitchen and bath showrooms, custom cabinet makers, independent hardware stores, other customers, and the design community. Dimora Brands' collection of industry-leading brands includes: Top Knobs, Atlas Homeware, Vesta, Watermark Designs, Water Street Brass, Du Verre, Hardware Resources, Jeffrey Alexander, Elements, Task Lighting, North Point Cabinetry and KasaWare. More information is available at DimoraBrands.com.
Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are industrials, consumer and technology. Clearlake currently has approximately $25 billion of assets under management, and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Lambert & Co.
For Dimora Brands
(609) 490-0999 x15
SOURCE Clearlake Capital Group