As part of company strategy to support significant growth, Covercraft Industries Inc. (Covercraft) has announced a recapitalization agreement with Century Park Capital Partners. Century Park Capital Partners is a Los Angeles-based private equity firm specializing in facilitating owner liquidity and business expansion by supporting management and investing in infrastructure.
“Demand for our various product lines has increased dramatically, especially over the past several years, and we want to do everything we can to set Covercraft up for success going into the future,” said Marty Lichtmann of Covercraft. “Our goal has always been to treat our employees like family, make the best products we can and provide the best solutions to meet customer needs. Century Park Capital Partners will help us continue to do just that.”
Mark Korros has been appointed as the new CEO of the company effective immediately, and will remain actively involved in an operations and in a consulting role. Korros noted that he is very pleased to be joining a seasoned company already poised for product and category expansion, and looks forward to focusing on the company’s future fueled by his leadership.
“Covercraft’s solid business platform will facilitate the implementation of a variety of growth initiatives that will preserve the heart of the brand while expanding company offerings,” Korros said.
Recently featured by Oregon Business for his exemplary work on behalf of iconic Pendleton Woolen Mills brand, Korros, a member of the Century Park Capital Partners Executive Council, has more than 35 years of executive leadership experience. He has served in leadership roles for a list of prestigious brands including C.C. Filson Company Inc., Franklin Covey Co., Samsonite, Reebok, Health-tex Childrenswear and Levenger.
