NCK Capital Announces a Majority Recapitalization of English Riding Supply
DALLAS, Jan. 06, 2022 (GLOBE NEWSWIRE) — NCK Capital, a Dallas-based private equity firm specializing in investing in lower, middle-market businesses, announced today that it completed a majority recapitalization of English Riding Supply (“ERS” or the “Company”), a U.S.-based company that markets and distributes English-style equestrian equipment and products for both horse and rider.
Founded in 2002 by industry veterans, Michael Diamond and John Logerfo, ERS serves as a one-stop-shop to over 800 online and brick-and-mortar tack shops and specialty retailers. It is known for industry-leading customer service and driving product innovation while distributing equestrian brands known for exceptional quality, such as Pessoa, Mountain Horse, Romfh, One K, Ovation, Catago, Veredus, and other international brands. Michael Diamond will continue as Chief Executive Officer, and John Logerfo will be retiring from his full-time role and will continue as a special advisor to the Company.
Michael Diamond commented, “We are very excited to partner with NCK. It was important to the entire ERS team to identify a capital partner that understood our vision for the company, the value we deliver to our customers, and the culture that has driven our success. We loved that Michael and Grant are brothers, and their firm is family-owned.”
“We focus on investing in companies like ERS that have a long tradition of success and are leaders in their industry, and we look forward to being a part of the ERS family,” said Michael Kornman. Grant Kornman added, “ERS is at the forefront of bringing innovative products to the equestrian market. We are excited to support their future efforts.”
Baker Tilly Capital LLC, led by Michael Demers and Michael Milani, advised ERS on the transaction. “The team at Baker Tilly Capital was fantastic. They listened to what we needed and did a masterful job executing the transaction. We felt they understood the importance of finding the right financial partner to help ERS grow without losing our deep commitment to our clients and suppliers,” said John Logerfo.
NCK Capital financed this transaction in partnership with PNC Mezzanine Capital and First Commonwealth Bank.
Grant M. Kornman | Managing Partner | [email protected] | 214-617-2089
Michael Kornman|Managing Partner| [email protected] | 214-617-2084
Scott Weiss | Analyst | [email protected] | 214-364-5309
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