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PRINT THIS PAGE Carlyle sells decorative laminate panels specialist Panolam to Genstar Capital25/08/2005. Source: AltAssets. 
 US private equity giant The Carlyle Group has sold Shelton, Connecticut-based Panolam Industries International for an undisclosed amount to an investor group including Genstar Capital, The Sterling Group and management.
Panolam designs and manufactures decorative laminate panels for commercial and residential uses such as cabinets, display cases and office furniture. Carlyle purchased Panolam in November 1999.
Carlyle managing director Praveen R Jeyarajah said, 'It has been a pleasure to work with CEO Bob Muller and his team. They persevered through the economic slowdown, redoubling their efforts to create efficiencies and satisfy customer needs. I am confident they will succeed with Genstar Capital.'
Darren J Gold, principal of Genstar Capital, added, 'Panolam is a well-managed company with excellent opportunities for continued growth and expansion. We look forward to working closely with Bob and his team to build value and to continue the firm's upward rise.'
San Francisco-based Genstar Capital makes leveraged investments in middle market companies. The firm has $900m of committed capital under management and focuses on selected segments of the life sciences, business services and industrial technology sectors.
The Sterling Group targets controlling interests in leveraged buy-out investments in basic manufacturing, industrial services and distribution companies with enterprise values typically between $100-500m.
Carlyle has $30bn under management and invests in most industry sectors. Earlier this month Carlyle and France-based Eurazeo agreed to sell Terreal to LBO France in a deal valued at €860m.
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