Ancor Capital Partners' Portfolio Company, Industrial Timber, Announces Opening of New Innovation Center
Industrial Timber, an Ancor Capital portfolio company, opened an innovation center allowing customers to view benefits of the company's expertise.
SOUTHLAKE, Texas, Sept. 7, 2021 /PRNewswire-PRWeb/ -- Ancor Capital Partners is pleased to announce that its portfolio company, Industrial Timber (or the "Company"), has opened a state-of-the-art Innovation Center in Tupelo, Mississippi. Established in 1999, Industrial Timber is a leading manufacturer of highly engineered wood components for the furniture and upholstery industry. The Innovation Center will allow customers to view the benefits of the expertise the company has developed to produce a superior product at significant cost savings to other suppliers and furniture manufacturers designing frames in-house.
J. Randall Keene, Founding Partner of Ancor, said, "When we initially acquired Industrial Timber in 2017, we knew the importance of professionalizing a business competing in a highly fragmented industry with many small players. Today, we continue to transform Industrial Timber to be the industry leader with the latest technology." Keene continued, "In two prior Ancor companies, Avail Medical and FCA Packaging, we were able to establish development labs that provided significant benefits to customers by designing superior products and utilizing alternative materials which generated operating cost savings and also maximized product attributes. We have taken the principles learned in these prior investments and implemented them at Industrial Timber."
Kevin Wiley, President of Industrial Timber, stated, "We view the new Innovation Center as a major accomplishment and are excited to open our doors to customers to see the engineering and design benefits we bring to our customers." Wiley continued, "Winning with better designs is winning for everyone; customer, product, process, and costs."
The result of a focused effort on wood frames for furniture allows Industrial Timber to bring expertise in weight barring, design, the weight of the furniture, and overall economic benefits. Industrial Timber is increasingly gaining traction in the market, has added numerous marquee customers, and has become the largest independent furniture frame manufacturer in the United States.
About Ancor Capital Partners
Ancor Capital Partners, founded in 1994, is a Dallas-based private investment firm that invests in lower middle-market companies. Ancor is focused on helping companies reach their next level of growth. Ancor's experienced investment team has the acumen, expertise, and resources to invest wisely in existing successful companies through private equity buyouts. As a seasoned operating partner, Ancor works to operationally optimize businesses, maximize growth opportunities, and instill a lasting culture. With a proven track record of over 50 successful acquisitions to date, Ancor targets investments in the healthcare, industrials, consumer staples, and emerging industries. For more information, please visit http://www.ancorcapital.com.
Media Contact
Justin Cueto, Ancor Capital Partners, +1 (940) 323-2341, [email protected]
SOURCE Ancor Capital Partners
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