Cambridge Savings Bank provided $2.6 million in financing to support the acquisition and transition of ownership for White Wood Kitchens, a Cape Cod-based kitchen and project management company to former information technology leader Anton Emelianov. With locations in Sandwich and Pembroke, MA, White Wood Kitchens sells cabinets and countertops to residential and commercial clients, along with local and regional builders, primarily in Southeastern Massachusetts.
The previous owners relied heavily on modern technology to facilitate design and installation of projects, which is how Emelianov became interested in and involved with the company. Under Emelianov, White Wood Kitchens will update its multi-phase design and delivery process, which is facilitated by SaaS collaboration and a project management platform, to build efficiencies and deliver improved results.
In addition to the $2.1 million loan CSB provided Emelianov to facilitate the acquisition, the bank extended a $500,000 line of credit for operating expenses. With a focus on streamlining operations, the capital will be used to support the transition for White Wood Kitchens’ 14 employees and the implementation of modern tactics with future growth opportunities in mind.
“When the opportunity to take ownership of White Wood Kitchens arose, I searched extensively to find a lender to facilitate the acquisition and CSB was the only bank that offered the right terms for my specific needs,” Emelianov said. “Adam and the team at CSB have supported me every step of the way, particularly as I settle into my new role. I am confident that CSB is the best banking partner to set White Wood Kitchens up for success in the years to come as I modernize the business with digital methodologies.”
“At CSB, we have the financing options and experience needed to support local businesses during times of transition so they are well positioned for future growth,” Adam Bispham, VP, corporate banking loan officer at Cambridge Savings Bank, said. “Anton is a visionary, and we believe he will elevate White Wood Kitchens’ success. We’re eager to consult with Anton and the White Wood Kitchens team as they evolve and increase their footprint across the Commonwealth.”
