Sale of Tablewerks, Inc.
Founded in 1987, Tablewerks is a leading North American developer of proprietary tableware products serving the foodservice market and trading partner to some of the industries largest suppliers of tableware, glassware and flatware products. The company is known for setting the industry standard in middle to high end chinaware to the largest and most prominent hotels, restaurants, and gaming companies domestically.
Steelite International, a portfolio company of PNC Riverarch Capital, is a leading manufacturer and supplier of tabletop products for the international hospitality industry.
Tablewerks engaged HT Capital to review strategic alternatives, prepare the company for sale and negotiate with Steelite to complete the transaction.
Steelite International, with extensive investments and operating experience in the hospitality industry, will expand both overseas sourcing as well as product offerings.
Tablewerks benefited from preparing for a transaction well in advance of pursuing a formal marketing effort to sell the business.