Weinberg Capital Group has sold its interest in North American Kitchen Solutions, Inc. (dba Hoodmart). Headquartered in Elyria, OH, Hoodmart is the leading factory-direct manufacturer and supplier of commercial kitchen ventilation systems, fire suppression systems and other products.
WCG acquired Hoodmart in early 2016 due to its strong brand name and its disruptive customer-direct sales model. During their ownership, Hoodmart nearly tripled its sales and executed multiple key initiatives to create an HVAC-focused custom commercial kitchen platform. The business is now a nationally recognized brand positioned for further growth.
"I'd like to thank Weinberg Capital Group for their support over the past six years. They have been great to work with and responsive in providing resources that have enabled outstanding top and bottom-line growth at Hoodmart" said Sacha Polakoff, President & CEO of NAKS.
Chip Weinberg, Managing Partner of WCG, said "We are proud to have been part of the success and growth of NAKS during our ownership. We have enjoyed working with Sacha and the management team over the last six years to help professionalize the business and set it on a sustainable growth path."
WCG was represented by Citizens Capital Markets and legal representation was provided by Benesch, Friedlander, Coplan & Aronoff LLP.
Weinberg Capital Group is a Cleveland, OH-based private investment firm that invests in well-positioned middle market companies located throughout the U.S. with annual revenue from $10 to $100 million and EBITDA ranging from $2 to $10 million. WCG focuses on firms where the current ownership and management reinvest in the transaction, and management remains in place, affording current shareholders and management an opportunity to achieve liquidity coupled with ownership continuity. The firm's current portfolio covers a broad range of industries including manufacturing, business services, consumer products, aerospace, and value-added distribution.
