GRAND RAPIDS — GNAP LLC, a distributor of abrasive products, equipment, specialty ceramics and ancillary services, completed a majority recapitalization with Dallas, Texas-based private equity firm CenterOak Partners LLC.
CEO Michael Currie and the present management team will continue to lead Grand Rapids-based GNAP, which was created in 2005 with the merger of Grand Northern Products and Abrasive Products.
Terms investment by CenterOak Partners were undisclosed.
“GNAP represents an attractive opportunity to work with a leading Industrial Growth business operating in large and fragmented product categories,” CenterOak Managing Partner Randall Fojtasek said in a statement. “We are very impressed with the Company’s emphasis on technical expertise, product category leadership and customer service — three pillars of a strong and scalable value proposition.”
The CenterOak deal will drive continued growth at GNAP, Currie said.
CenterOak “has an impressive track record of developing specialty distribution businesses, including significant experience supporting geographic and product line expansion strategies,” he said.