Skip to content

Hoskin & Muir

Situation

Hoskin & Muir (d.b.a. HMI Cardinal) was founded in 1948 and began as a decorative aluminum trim wholesaler. In the 1980s, under the leadership of Don Cameron Ross, the Company began its specialization in shower door trim and ultimately transitioned into the shower door manufacturing business. HMI Cardinal maintained momentum through the recession and became one of the nation’s largest custom shower enclosure manufacturers while also rapidly growing its commercial storefront operation. The Company now has over 580 employees, operating from seven distribution centers, and nine delivery warehouses that service over 5,000 customers in the residential, hospitality and commercial markets across the U.S. Ultimately, the shareholders realized a liquidity event at a very attractive valuation, while ensuring the preservation of HMI Cardinal’s legacy, employees and community.

Sadly, the Company’s leader, Don Ross, passed away after growing the business for 35+ years. It was extremely important to his family to find an appropriate steward that could continue to run the Company in Don’s legacy with the same love and respect for the employees that Don had.

Solution

After narrowing the possible suitors to the three finalists the shareholders felt most comfortable with, we negotiated a transaction with the global private equity firm, the Riverside Company. After several meetings, the shareholders became comfortable with Riverside and believed they would be the best steward to help take the Company to the next level while maintaining important elements of the Company’s culture.