Knape & Vogt, a furniture hardware manufacturer based in Grand Rapids, Mich., acquired Diamond Storage Concepts LLC and the furniture components operations of CompX International in two separate deals.
Diamond Storage Concepts in Las Vegas sells the Hyloft brand of ceiling-mounted overhead storage, wall-mounted shelving and tire-storage products.
“The acquisition of Diamond Storage Concepts and the Hyloft brand of products adds exciting new products to KV’s line of garage and utility storage products business,” Knape & Vogt president and CEO Peter Martin said in a statement. “Garage storage is one of the fastest growing categories in home storage and organization. The addition of Hyloft products and the Diamond Storage team to our company will provide opportunity to further penetrate this important category.”
The CompX deal includes Waterloo Furniture Components in Kitchener, Ontario, and the Dynaslide division in Taipei, Taiwain. Both manufacturers produce precision ball-bearing slide products to the OEM market, including office furniture, appliances, commercial tool chests, computer servers and others.
“The acquisition of Waterloo Furniture Components and Dynaslide will provide Knape & Vogt with access to new customers and markets and an expanded presence in our office OEM and distribution channels” Martin said in a statement. “The combined resources of KV and these two companies provide an enhanced slide product line, a full array of ergonomic accessory products and an exciting new growth opportunity through the addition of wall mounted workstation products for hospitals, medical clinics, and other health care providers. Our rapidly growing international business will be enhanced by combining Dynaslide’s wide range of slide products with [KV’s] GSlide’s existing product line allowing for business expansion within both companies’ current customers and through new customers around the world.”
Knape & Vogt and Active Interest Media, publisher of Woodshop News, are both owned by the Wind Point Partners private equity firm in Chicago.