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TCFCF Provides $15MM to Support Dixie Diamond Acquisition

August 29, 2016, 08:11 AM
Filed Under: Manufacturing

TCF Capital Funding announced that it provided $15 million in secured financing to support Mangrove Equity Partners in their acquisition of Dixie Diamond-Concut Group. 

Dixie Diamond Manufacturing of Lilburn, GA and Concut, Inc. of Kent, WA have joined forces to create a combined entity with a national presence.  Both are family-owned businesses with long histories of success in the manufacture of diamond blades, core bits and equipment.   Together, they constitute the largest American-owned diamond tool manufacturer in North America.

Dixie Diamond is a manufacturer of consumable diamond blades and diamond core bits for use in road repair, infrastructure and commercial construction. For more than 40 years, they have been producing high-performance cutting tools using the most advanced production techniques and equipment along with the highest quality materials. 

Concut, Inc. has been a leading manufacturer of diamond tools and equipment for over 70 years. They serve local, regional, national and international customers in a variety of industries. They offer an extensive range of diamond blades and core bits, as well as a complete line of equipment, for the cutting of concrete, masonry, stone / tile and other materials.

The combination realizes long-held goals of the management of both companies.  Management of Dixie Diamond, and Concut, each recognized the potential benefits of bringing the two companies together. Both businesses have grown rapidly in recent years and have sought opportunities to provide greater value to customers.  With manufacturing facilities on separate coasts, sales representatives in different states, and complementary product lines, there is a natural fit between the two organizations.  

"The combination of Dixie and Concut is extremely complementary to both companies. We are excited about the transaction and look forward to supporting Mangrove and the management team as they continue to grow the business" said TCF Capital Funding Senior Vice President Ed Ryczek.

Mangrove Equity Partners, LP is a Tampa, Florida-based lower middle-market private equity firm. Its founding principals have a 40+ year collective reputation as effective, fair, flexible, and honorable partners to company owners and managers.

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