Daily News: April 8, 2014

F.N.B. Closes Investment in Kitchen Cabinet Designers

F.N.B. Capital Partners announced the closing of an investment in Kitchen Cabinet Designers (KCD). FNBCP provided a mezzanine debt and equity investment to partner with Ninth Street Capital Partners and KCD’s founders, Richard and Pauline Gambill. FNBCP’s investment will facilitate expansion and growth.

“We have a lot of confidence in Ninth Street and their ability to grow KCD alongside the existing team,” noted Stephen Gurgovits, Jr., managing partner at FNBCP. “The Gambill’s have a long history of delivering quality and service to the cabinetry marketplace. We believe that this partnership will best position KCD to take advantage of the rebounding demand for building products in the U.S.”

Raleigh, NC-based KCD is an importer and distributor of affordable, framed-style cabinetry primarily to the home renovation market.

FNBCP is a $175 million fund, licensed as a Small Business Investment Company (SBIC) and managed by Tecum Capital Management.