| |
property for sale in balchik varna brovets bansko bulgaria
News and Information Article
Funding Assures Local Ownership of Cabinet Manufacturer
KANSAS CITY, Mo., Aug. 14 // -- Quality Wood Products Inc., a
producer of custom cabinets and other wood products, has received $7.5
million in financing from Advantage Capital Partners. Advantage partnered
with U.S. Bank on the investment, which was made in connection with the
federal New Markets Tax Credits (NMTC) program. The funds are being used to
acquire and grow the company.
Quality Wood Products ( http://www.qwpi.com ), located on East 12th
Street near Interstate 435, is a manufacturer of custom kitchen, bathroom,
bar and library cabinets for the new home and remodeling markets. The
companys cabinets are used in a full range of homes built in the Kansas
City area. Founded in 1961 as a part-time endeavor by a local firefighter,
QWP has grown over the years to become a substantial business with more
than 250 employees. David Stry and Peter Stry, both of the Kansas City
area, recently purchased the company from its founder, who retired a few
years ago.
"This financing enables us to keep Quality Wood Products locally
owned," David Stry said. "With this investment, we have the resources we
need to support this business, grow it and keep more than 250 jobs here in
Kansas City. Although our sales to new home builders are strong, we plan to
increase our presence in the remodeling market."
Both Strys are knowledgeable in the cabinet and building products
industries with over 45 years of experience.
"Quality Wood Products is a solid company with a history of growth and
stability," said Louis Dubuque, an Advantage principal. "Were excited to
invest in a company that serves a diverse customer base, operates in a
low-income area and has the potential to grow."
This funding is Advantages first NMTC-related investment in Kansas
City. Advantage has raised more than $100 million to date through this
innovative federal initiative, which is designed to stimulate growth and
job creation in targeted communities by providing much-needed private
investment capital to low-income areas. The firm has partnered with U.S.
Bank on several of its New Markets investments.
About Advantage
Advantage Capital Partners ( http://www.advantagecap.com ) is a private
equity firm focused on investing in promising companies in connection with
federal, state and local economic development initiatives. With offices and
partners in St. Louis, New Orleans, New York and other cities, Advantage
has raised more than $700 million in institutional venture capital since
1992 and invested in companies located in geographic areas underserved by
traditional venture capital.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with assets of $213 billion, is the sixth
largest financial holding company in the United States. The company
operates 2,434 banking offices and 4,966 ATMs, and provides a comprehensive
line of banking, brokerage, insurance, investment, mortgage, trust and
payment services products to consumers, businesses and institutions. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web
at http://www.usbank.com .
| |
|
|
 |
property for sale in balchik varna brovets bansko bulgaria |
|
|
|
|
|
|
|
|
|
Locations
