Olon Acquisition is Huron’s Eleventh Add-on of 2015
Detroit, MI – June 9, 2015 – Huron Capital Partners LLC (“Huron”) announced today that its portfolio company, Olon Industries (“Olon”), has acquired Lexington, NC-based Carolina Drawers (“CDI”). This deal marks the 11th add-on investment made by a Huron Capital portfolio company so far in 2015, and the 7th in the past 9 weeks.
Carolina Drawers is a leading manufacturer of solid wood and plywood drawers for the U.S. kitchen & bath cabinet and furniture industries. CDI offers solid wood drawer components sourced from around the world, as well as a complete line of Baltic Birch plywood products. Olon has operations in Indiana, Illinois, and Ontario.
“We are very excited about the strategic fit between CDI and Olon and the synergies we believe we can achieve,” stated Don Hambly, Olon’s President & CEO. “We think CDI’s customer base and product offering are a perfect complement to Olon’s growing business.”
“The acquisition of CDI continues Olon’s strategy to strengthen its U.S. manufacturing presence and expand its product offering,” said Matt Hare, Principal at Huron Capital. “This is consistent with Huron’s buy-and-build strategy, and we’ve been very busy across the portfolio this year.”
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