Grand Rapids-based private equity firm Blackford Capital today announced the acquisition of Snowhite Textile and Furnishings Inc., a provider of design, procurement, and project management services for delivering furniture, fixture, and equipment solutions for the hospitality industry.
Showhite is Blackford’s latest investment in its National Growth Practice, which invests in companies nationwide, and brings their total portfolio to 13 companies. Details of the acquisition were not disclosed, debt financing was provided by West Suburban Bank.
“Snowhite has a long history of serving the hospitality industry,” says Martin Stein, founder and managing director of Blackford Capital. “Snowhite is known throughout the industry for its quality, customer service, and design capabilities. We see opportunities to leverage these strengths to grow the business and provide superior furniture, fixture, and equipment products to a broader set of customers.
“By partnering with the Snowhite team and incoming CEO Greg Kadens, a veteran in the space, we are confident that we can build upon Snowhite's legacy as a leader in furniture, fixtures, and equipment.”
Founded in 1985, Snowhite began as a supplier of towels and linens to local hotels. Since then, founder Dick Kapadia has expanded the business model and the company now works with LaQuinta, Choice, Wyndham, and Hilton. Services include in-house design, procurement, and project management to support the delivery of furniture, fixtures, equipment, operating supplies, and other necessities of the hospitality industry.