Cyprium Partners announced that it has exited its investment in Endura Products following the company's recent acquisition by Masonite International Corp., according to Crain's Cleveland Business. Financial terms of Cyprium's investment were not disclosed, however, the acquisition by Masonite, which closed in January, was reportedly valued at approximately $375 million.
Cyprium invested in Endura to support a recapitalization of the business that closed in December 2019. That deal enabled Endura CEO Bruce Procton to redeem the outstanding shares of his two siblings, who were inactive in the business.
"On behalf of myself and my colleagues at Cyprium Partners, I would like to congratulate Bruce Procton and his management team, and all the employees of Endura, on the completion of the merger with Masonite," says Cyprium partner Lee Lewis in a statement. "I would also like to thank them for their tireless efforts to continue to provide quality products to Endura's customers during a period of time when many others could not. We wish them the best as they enter into a new exciting phase of their development."
