Print
More News

Wilmington-based Markraft Cabinets Acquired By Texas Company

By Johanna Cano, posted Apr 4, 2019
Wilmington-based Markraft Cabinets has been acquired by Artisan Design Group (ADG), a supplier of floor products and services, in a deal that will add more products to ADG’s product portfolio and allow Markraft to expand to other markets, according to a news release.

With the acquisition, which closed Monday for an undisclosed amount, Markraft will retain its name but will now be a limited liability company, said Cee Edwards, president of Markraft, on Thursday.

All 120 Markraft employees will retain their jobs, and the leadership will remain the same, Edwards said.

“We want our customers and employees to know that day-to-day operations are not going to change,” he said. “The leadership, the product, the process, the personnel will not change. That’s what made this partnership attractive to us; [ADG] knows we are experienced in the field and they want us to do what we do best and that is to continue to be a leader in providing excellent solutions and service to our customers.”

ADG eyed Markraft for the acquisition because of the Wilmington company’s business model and culture, Edwards said.

"We see this expansion into cabinets and countertops, and in particular in the Carolinas and Tennessee, as an integral part of the growing ADG platform,” ADG officials said in the release. “Joe [Jacobus] and the Markraft Cabinets team have grown the company into a clear leader in its markets, and we look forward to the many benefits each of our respective businesses will enjoy from being partners.”

Jacobus, CEO of Markraft, opened the company in Wilmington in 1985. It provides cabinet and countertop products, designs and installation services for kitchens and bathrooms. The company currently operates in Wilmington, Apex, Nashville and Hilton Head.

In 2017, Markraft acquired Apex Cabinet Company to expand its operations in the Triangle area.

ADG is a portfolio company of The Sterling Group, an investment firm that targets companies in manufacturing, distribution and industrial services, according to the release.

“Our philosophy is that if a business isn’t growing, it's dying. This acquisition will help us get to the next level, we are always pushing to be the best in the industry,” Edwards said. “It will allow us to grow and be a leader in the markets we serve. Our partnership with ADG allows us to do this together.”
Ico insights

INSIGHTS

SPONSORS' CONTENT
Dallas headshot 300x300

A Planning Process for Future Success

Dallas Romanowski - Cornerstone Business Advisors
Jim ellis headshot 10311631058

Questions to Ask Before Choosing a Digital Agency

Jim Ellis - Signal
Mike stonestreet 300x300

Lessons from Hurricane Florence

Mike Stonestreet - CAMS (Community Association Management Services)

Trending News

At Mayfaire, New Physical Therapy Facility Throws Out Insurance Model

Cece Nunn - Jun 24, 2019

Renting Continues To Get More Expensive In Wilmington, Data Shows

Cece Nunn - Jun 24, 2019

Brunswick Home Sales Close To Last Year's Levels In May, Realtors Report

Cece Nunn - Jun 24, 2019

In The Current Issue

Selling Iconic Property On Iconic Island

More than 30 years later, Buzzy Northen and his wife, Ellen Northen, are still in love with Figure Eight Island. “It’s just heaven,” Buzzy N...


Info Junkie: Claire Holroyd

Find out which apps and tech are used by Skilly-do CEO and co-founder Clarie Holroyd, whose product is an online toolkit that promotes early...


Software Firm Codes For Growth

After growing PS Solutions in Pennsylvania, founder Wayne Hippo came to Wilmington with the goal of replicating the company’s growth in the...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Power Breakfast - The H Word (June 13, 2019)
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`
Health Care Heroes 2018