By SHARON HOWELL
Poly-Wood LLC

SYRACUSE — We are very pleased to officially announce the recapitalization of Poly-Wood through Oxford Financial Group Ltd. and Cardinal Equity Partners of Indianapolis. Each are privately held and contribute decades of experience from seasoned business executives to provide forward thinking investment strategies. While all original Poly-Wood shareholders have remained invested, these new long-term relationships will provide strategic direction as Poly-Wood continues to implement aggressive growth plans.

“We are pleased to be part of this exciting new chapter of the Poly-Wood story,” said Jeffrey Thomasson, managing director and chief executive officer, Oxford. “They are truly unique in the space, offering a total solution that includes the design and development of innovative products, merchandising support, manufacturing and quick delivery.”

“Poly-Wood is a leader in the outdoor furnishings industry,” added John Ackerman, managing director, Cardinal Equity Partners. “And we’re excited to take the company to the next level of growth.”

Doug Rassi, president, CEO and co-founder of Poly-Wood, will continue his role in the company and said, “Finding partners who understood our core strategy and visionary use of technology was key. We truly appreciate the enthusiasm both Oxford and Cardinal have shown for our business.” With plans to expand already in motion, Poly-Wood will continue to provide customers with the service and support of a world-class company. “We look forward to gaining many new customers while developing numerous new and exciting products,” Rassi added.

Part of Poly-Wood’s current growth includes construction of a new facility with nearly 5.5 acres of usable floor space. This new building will provide a more efficient process for manufacturing, allowing Poly-Wood to make and ship more than 5,000 different pieces of furniture in one place. “From start to finish we’ll be able to make the furniture and ship it without taking it across the street to another building,” Rassi said. Read about Poly-Wood’s recent groundbreaking here.

Oxford Financial Group Ltd. is a premier multifamily office in the Midwest and one of the largest Registered Investment Advisor firms in the country with oversight of more than $20 billion in assets for more than 700 families and institutions in 37 states. Oxford is an independent, fee-only firm providing families and institutions generational estate planning advice and forward-thinking investment strategies for more than 30 years, with special expertise in alternative investments and private equity. Oxford specializes in serving clients with net worth above $5 million.

Cardinal Equity Partners is a private investment partnership that seeks to acquire or assist management teams in recapitalizing lower-and-middle market businesses located in the central portion of the United States. Established in 1993, under the name of Cardinal Ventures and using their own capital, they purchase and grow niche businesses with a long-term mission of creating value by providing growth capital and management resources to the companies acquired. In 2008, a group of successful executives joined the original principals and the name was changed to Cardinal Equity Partners to reflect enhanced capital and expertise base.

For more than 20 years, Poly-Wood has been a leader in developing casual outdoor furniture with plastic lumber. Today, Poly-Wood occupies more than 300,000 square feet of manufacturing and warehouse space. Its plastic lumber extrusion process is modern and efficient. Poly-Wood uses 3D design, CNC fabrication and lean manufacturing techniques. Poly-Wood now offers thousands of SKUs and ships a majority of its furniture in three days or fewer.