Ancor Capital Partners is pleased to announce that its portfolio company, Industrial Timber (or the “Company”), has opened a state-of-the-art Innovation Center in Tupelo, Mississippi. Established in 1999, Industrial Timber is a leading manufacturer of highly engineered wood components for the furniture and upholstery industry. The Innovation Center will allow customers to view the benefits of the expertise the company has developed to produce a superior product at significant cost savings to other suppliers and furniture manufacturers designing frames in-house.
J. Randall Keene, Founding Partner of Ancor, said, “When we initially acquired Industrial Timber in 2017, we knew the importance of professionalizing a business competing in a highly fragmented industry with many small players. Today, we continue to transform Industrial Timber to be the industry leader with the latest technology.” Keene continued, “In two prior Ancor companies, Avail Medical and FCA Packaging, we were able to establish development labs that provided significant benefits to customers by designing superior products and utilizing alternative materials which generated operating cost savings and also maximized product attributes. We have taken the principles learned in these prior investments and implemented them at Industrial Timber.”
Kevin Wiley, President of Industrial Timber, stated, “We view the new Innovation Center as a major accomplishment and are excited to open our doors to customers to see the engineering and design benefits we bring to our customers.” Wiley continued, “Winning with better designs is winning for everyone; customer, product, process, and costs.”
The result of a focused effort on wood frames for furniture allows Industrial Timber to bring expertise in weight barring, design, the weight of the furniture, and overall economic benefits. As a result, industrial Timber is increasingly gaining traction, has added numerous marquee customers, and has become the largest independent furniture frame manufacturer in the United States.