KT Capital Partners Acquires FilterWorks USA, an industry-leading layout & design, capital equipment and service provider to the automotive collision repair industry.
DEERFIELD BEACH, FL, December 5, 2018 – Industry leading layout & design, capital equipment and service provider to the automotive collision repair industry, Filterworks USA (www.filterworksusa.com) today announced the majority interest acquisition by an investment group led by KT Capital Partners.
The investment group includes: KT Capital Partners, BlueArc Capital, Pine Street Capital and the founder/current owner, Gregg Strandberg, who will continue as President & CEO.
“FilterWorks USA has been in business in South Florida for over 30 years and has enjoyed sustained, double digit annual growth and strong vendor relationships since its formation,” Gregg Strandberg notes. “The fresh and broader depth of experience and expertise brought in by KT Capital Partners, coupled with the diverse leadership and operational experience of the company management team, will facilitate FilterWorks USA’s continued growth going forward.”
KT Capital Partners is a leading private equity firm which invests in stable, established, and growing companies. KT Capital invests in both existing and new management teams and assists in the growth and development of its company investments organically and through selective add-on acquisitions. BlueArc Capital Partners and Pine Street Capital are leading providers of private equity and mezzanine capital to lower
middle-market companies.
“FilterWorks USA is a tremendous entrepreneurial success story due to the vision and drive of Gregg Strandberg,” Peter Kacer, Managing Director at KT Capital, said. “This acquisition will allow the company to accelerate its already strong growth rate. The growth strategy going forward will include continued organic growth as well as growth through strategic/selective Add On acquisitions”. Jim Tapp, Managing Director at KTCapital, added: “FilterWorks USA continues to add new products and services, including ongoing maintenance and service contracts, to better serve their customers. Going forward, FilterWorks looks to more effectively compete in a broad range of categories to become the most comprehensive, one-stop collision products purveyor in the industry.”