From Home Furnishing Business
Investment Firm Recapitalizes Corsicana; Names CEO
As part of the partnership, Long Point has named a new CEO for the private label mattress supplier.
Mark Kuchenrither has been named CEO for the company. Most recently, he was CEO of EZCorp, a provider of pawn loans and consumer loans in the U.S., Canada and Mexico. He was also CFO of Arch Aluminum & Glass, a fabricator and distributor of architectural glass and aluminum products for the commercial building products industry and a former portfolio company of Long Point.
“The capital and expertise our new partners bring to bear for Corsicana will be instrumental in our company's next phase of growth and there is a tremendous amount of excitement for the future that Mark succeeds me as the CEO," said Corsicana’s former majority owner and CEO, Kuchenrither succeeds Carroll Moran in the CEO position. Moran, remains a shareholder and chairman of the board of directors of Corsicana.
"I am very excited to be partnering with the Moran family, Long Point Capital and the existing management team to continue Corsicana’s track record of success by delivering quality and value to its customers,” said Kuchenrither.
Long Point Capital’s investment model is to invest in founder, family and employee-owned companies.
"We are very excited about our new partnership,” said Eric Von Stroh, managing director of Long Point Capital. “We watched Carroll and his management team successfully execute their strategy of building a nationwide promotional bedding business and have been interested in making an investment for many years.”