Milwaukee private equity firm Borgman Capital announced its acquisition of Minnesota Tile and Stone (MTS). The company will be merged with Borgman Capital’s portfolio company, K.G. Stevens. The acquisition enables both companies to expand their Midwest footprint and diversify their product offerings.
Borgman Capital also announced that Jason Gaare has been named K.G. Stevens president. In addition, MTS previous owner and president, Alan Dale retired effective with the transaction’s completion.
Founded in 1930 in Minneapolis, MTS offers a unique selection of specialized products, including tile, custom fabricated natural stone, quartz, and porcelain countertops, and brick fireplaces to residential and commercial customers. MTS has five showroom locations throughout the Twin Cities in Lakeville, Minneapolis, Minnetonka, Plymouth and Woodbury, Minn.
Based in Milwaukee, K.G. Stevens is the largest countertop fabricator in Wisconsin and was acquired by Borgman Capital in October 2022. Both companies sell to a blend of new construction and remodeling projects and serve customers in residential and commercial end markets.
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