Sangetsu Corp. has acquired Koroseal Interior Products Holdings Inc. from Peak Rock Capital. The acquisition expands the buyer’s presence in the U.S. market. Sangetsu is a Nagoya, Japan-based seller of wall coverings, curtains and upholstery.
Koroseal, headquartered in Fairlawn Ohio, produces wood and textile wall coverings along with dry erase boards for the hospitality, healthcare and retail sectors. Peak Rock acquired the target in 2014 when it purchased RJF International Corp.’s interior products division. Peak Rock and Koroseal say the sale to Sangetsu positions the target for its phase of growth.
Peak Rock, based in Austin, Texas, is a lower middle market private equity firm that targets companies covering in consumer goods, food and beverage, business services energy, healthcare, manufacturing, industrials, metals, and technology. The firm purchased fishing product manufacturer Lew’s Fishing; Peak Rock bought Diamond Crystal Brands Inc., a food service company, and purchased dairy-based snacks provider Berner Foods & Beverage in 2015. The firm typically invests between $20 million to $150 million in companies with up to $1 billion in revenue.
Robert W. Baird & Co. and Kirkland & Ellis LLP advised the sellers.