Long Point Capital is pleased to announce that it has partnered with management to recapitalize Corsicana Bedding, LLC ("Corsicana"), the leading private label mattress manufacturer in the industry. With nationwide production facilities, Corsicana serves over 5,000 customers and has been delivering quality and value for over 40 years.
Long Point is also pleased to announce the hiring of Mark Kuchenrither as Corsicana’s Chief Executive Officer. Mark is a seasoned operating executive with over 30 years of relevant experience, including CEO of EZCORP and CFO of Arch Aluminum & Glass, a leading fabricator and distributor of architectural glass and aluminum products for the commercial building products industry and former portfolio company of Long Point.
“The capital and expertise our new partners bring to bear for Corsicana will be instrumental in our company's next phase of growth and there is a tremendous amount of excitement for the future that Mark succeeds me as the CEO," said Corsicana’s former majority owner and CEO, Carroll Moran, who remains a shareholder and Chairman of the Board of Directors of Corsicana. "Mark brings a complementary skill set that is an important part of my desire to continue to build Corsicana into a world class organization.”
Mark commented on his appointment: "I am very excited to be partnering with the Moran family, Long Point Capital and the existing management team to continue Corsicana’s track record of success by delivering quality and value to its customers.”
Eric Von Stroh, Managing Director at Long Point Capital, said, "We are very excited about our new partnership. We watched Carroll and his management team successfully execute their strategy of building a nationwide promotional bedding business and have been interested in making an investment for many years.”
“Corsicana fits our relationship investment model of investing in founder, family and employee-owned companies where we can work as partners with management to grow a company’s value to its full potential,” added Ira Starr, also a Managing Director at Long Point Capital. “I was on the Board of Directors of Arch Aluminum & Glass when Mark was CFO and I am thrilled that we were able to attract someone of his caliber as CEO of Corsicana.”
If you have questions about this transaction, please contact Ira Starr istarr@lpcfund.com, Eric Von Stroh, evonstroh@lpcfund.com or Norm Scherr nscherr@lpcfund.com.