— Furniture Today,
GRAND RAPIDS, Mich. — Furniture components supplier Knape & Vogt Mfg. said its previously approved sale to investment firm Wind Point Partners has been consummated for $106 million in cash and assumed debt.


Shareholders of Knape & Vogt, a manufacturer and distributor of drawer slides, shelving, storage and ergonomic office products, approved the sale in late June. As a result of the sale, Knape & Vogt’s stock ceased to be traded on the Nasdaq market at the close of trading Friday.

Wind Point, with offices in Chicago and Smithfield, Mich., acquired the company in partnership with Peter Martin, who is assuming the role of CEO, and Bill Denton, who will be chairman.

Martin most recently was president and CEO of The Holmes Group, an $800 million manufacturer and marketer of small appliances, and earlier was president of the $1.2 billion Global Window Fashions group of Newell Rubbermaid.

Denton has worked in the consumer hard goods industry for more than 35 years, most recently as president of Fiskars, a $600 million, publicly traded maker of branded consumer products. Earlier, he was president of the $2 billion Housewares group of Newell Rubbermaid.

“This was clearly the right opportunity for Knape & Vogt to maximize shareholder value while preserving our heritage as a leading manufacturer and product marketer,” said Bill Dutmers, former chairman and CEO and now a consultant to the company. “The KV team will continue to focus on serving our customers and driving the business, and we look forward to the added support and resources of the Wind Point team.”