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Private equity firm to buy CFC

Buyout valued at $75M

By Furniture Today Staff -- Furniture Today, January 17, 2006

CHICAGO HEIGHTS, Ill. -- Specialty coatings manufacturer CFC International has agreed to be taken private in a buyout valued at about $75 million.

According to the buyout agreement, Quad-C Management, a private equity firm with offices in Charlottesville, Va., and New York, will acquire all of CFC’s outstanding stock for $16.75 per share. The all-cash transaction is expected to close by the end of the first quarter.The chairman of CFC, Roger Hruby, also is the company’s majority stockholder. Since Hruby has agreed to approve the transaction, no further stockholder action will be required to adopt the buyout agreement, the company said.Lincoln Partners LLC advised CFC on the transaction, and the company’s board of directors received a fairness opinion from Houlihan Lokey Howard & Zukin Financial Advisors. Quad-C Management is a middle-market private equity firm with more than $2 billion in assets under management. Founded in 1989, the firm has completed more than 100 transactions since its inception.

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Private equity firm to buy CFC

Jan 29, 2006

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