Platinum Equity to Acquire the Cabinetworks Group, a Leading Manufacturer of Kitchen Cabinets


April 5, 2021

LOS ANGELES — Platinum Equity today announced that it has entered into a definitive agreement to acquire The Cabinetworks Group (“Cabinetworks”) from American Industrial Partners, GIC and other equity holders.

Cabinetworks is the largest independently owned manufacturer and distributor of kitchen and bath cabinets in the United States under the nation’s leading brands, including: KraftMaid, Medallion, Smart, Merillat, Yorktowne, Echelon, Advanta, Studio Full Access, Master WoodCraft, and Cabinets 2000. The company produces both framed and frameless cabinetry, operating out of 14 assembly plants and three component facilities, and serves customers through a multi-channel approach including sales to dealers, home centers and distributors across the United States. 

Jacob Kotzubei, a Partner at Platinum Equity, said: “Cabinetworks has a comprehensive portfolio of highly-respected, fast-growing brands, a strong leadership team and a proven track record for growth. The company’s leading position in the cabinets space, combined with Platinum Equity’s operational toolkit and M&A resources, make Cabinetworks a great fit for our portfolio.”

Todd Golditch, a Managing Director at Platinum Equity, said: “We are thrilled to partner with CEO Joe Gross and the entire Cabinetworks team. They have built an attractive platform and helped transform the industry, and there is also a significant amount we can do together to continue their history of innovation and grow the business both organically and through additional M&A activity. Platinum Equity has had a lot of success in the building products sector, we know the industry well and are excited about the opportunities ahead for Cabinetworks.”

Other companies that Platinum Equity previously invested in within the building products ecosystem include Interior Logic Group, the largest national provider of interior design and finish solutions for the homebuilding industry, and PrimeSource, a national distributor of specialty building materials including fasteners serving the new-construction and remodeling markets.

Joe Gross, Chief Executive Officer of Cabinetworks, said: “This transaction is another important milestone of success for our Cabinetworks team. I would like to thank all our 8,000 employees for the work that you do every day. I want all Cabinetworks employees to understand that this announcement validates what you already know in your heart: the future is limitless for our company when we delight our customers with products and service. To our valued customers, suppliers: Platinum Equity’s investment in our business is a wonderful development in the history of our company.  In Platinum Equity, we have a world-class partner as we continue to grow our business.”

Rick Hoffman, a Partner at American Industrial Partners, said: “We have been honored to work with a best-in-class management team and a remarkable and dedicated workforce across the United States to build an industry-leading kitchen and bath cabinetry business.  We are proud of what Cabinetworks has accomplished during our partnership over the last eight years and believe the company is now positioned for still greater success in the years to come.”

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. Citi served as sole M&A advisor to Platinum Equity. Kirkland & Ellis LLP is serving as legal advisor to Platinum Equity. BofA Securities will lead the debt financing for Platinum Equity and Cabinetworks. 

BofA Securities and Barclays served as financial advisors to Cabinetworks. Ropes & Gray LLP is serving as legal advisor to American Industrial Partners.  

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, building products, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 300 acquisitions.

About American Industrial Partners 

American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, American Industrial Partners has completed more than 100 transactions and currently has more than $8 billion of assets under management on behalf of leading pension, endowment, and financial institutions. For more information on American Industrial Partners, visit

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. GIC invests through funds and directly in companies, partnering with its fund managers and management teams to help world-class businesses achieve their objectives. GIC has investments in over 40 countries around the world. Headquartered in Singapore, GIC employs over 1,700 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit