ClearLight Partners, LLC Acquires a Controlling Interest in Katzkin Leather Interiors
NEWPORT BEACH, CA July 9, 2007 – Private equity firm ClearLight Partners announced today that it has acquired a controlling interest in Katzkin Leather Interiors, Inc. The current management team, including Company founder Mitch Katz, will remain with the Company. ClearLight Partners provided equity and mezzanine financing in the transaction, while Madison Capital led the senior debt financing. Katzkin management will continue to have an equity stake in the Company.
Founded in 1983, Montebello, CA-based Katzkin is the industry’s leading designer, manufacturer, and distributor of made-to-order aftermarket leather interiors for automobiles and light trucks, sold to and installed by a national network of more than 2,000 independent automotive aftermarket restylers. Katzkin offers almost 2,000 interior patterns for the majority of vehicles on the road today, and makes nearly 90% of all manufactured custom leather interiors to order with delivery within 24 hours of order receipt. “We are pleased to have ClearLight as our new financial partner and look forward to working with them to grow the company and continue to service our customers,” said Brooks Mayberry, President of Katzkin Leather Interiors, Inc.
Michael S. Kaye, Managing Partner at ClearLight, stated, “ We are delighted to join forces with the Katzkin team. The Company has a proven track record of innovation and growth and we look forward to a successful partnership.”
The ClearLight deal team was led by Larry Ward.
Katzkin Leather Interiors, Inc. is the leading designer, manufacturer, and distributor of customized aftermarket leather interiors for automobiles and light trucks.
Katzkin Leather Interiors, Inc.
6868 Acco Street
Montebello, CA 90640