Versatrim, the floor moldings manufacturer based in Henderson, North Carolina, is making big moves to accelerate growth.
The company's innovative approach to molding solutions—manufacturing in the United States with no minimums—and its ability to coordinate with most of the top colors in the vinyl, LVT, WPC, and the laminate flooring industry, has guided the company to the forefront as a leading manufacturer of floor moldings.
In 2021, private equity firm Saw Mill Capital Partners saw the potential and announced its investment in the Versatrim. Versatrim Founder Thilo Hessler said the investment came at a critical time when revenue had outgrown processes.
"We've added a lot of capacity in manufacturing: 30%, 35% last year and in '21—state of the art molding machines," Hessler said.
In January 2023, Keith Medick joined the company as CEO. Most recently, Medick was president and CEO for Union Corrugating Company, a metal roofing manufacturer based in Ocala, Florida.
"What I like to do is grow businesses," said Medick, who has 25 years experience leading public, private and companies held by private equity. "What I saw was a great foundation that we could take to another level—grow the business two, three times, with some more investment and the addition of some more human capital.
Medick said there are parallels between Versatrim and his previous role: "It grew three times, sold through the same kind of channels: through distribution, retailers and big boxes."
With Medick coming board, Hessler said he plans to travel less and stay on as a board member. "I'll advise where I can, and my experience in the industry will help—we'll do something great together," he said.
The American Dream
In September of 1998, at the age of 22, Thilo Hessler moved from Bavaria, Germany, to Raleigh, North Carolina, to start a molding business.
“As a foreigner, I can tell you that Americans are awesome,” Thilo said. “America provides tremendous opportunities. People are entrepreneurial and businesses are open to new ideas, which drives innovation and makes our work very exciting.”
Hessler started out taking orders by phone, packaging them himself, and then driving them to the local UPS office for delivery. Today, Versatrim employs more than 150 employees, and freight companies leave their trailers at the facility to fill them up throughout the day. More than 100,000 orders ship from Versatrim's 134,000-square-foot facility each year, which sits on 26 acres.
Plans for Growth
Medick said geographic expansion, investment in manufacturing, and acquisitions are on the table for Versatrim's growth . "We have this huge capacity to grow, and one of the things that excited me is there are many other product extensions that we could do."
While the majority Versatrim's sales come from the southeast, Medick said he sees the potential for Versatrim to have a national footprint. "Expanding our presence in the Midwest and on the West Cost would allow us to do a better job with deliveries. Thilo and his team have built a great business, with low minimums, short lead times, and that's what our customers are looking for, but they have a lot of choices out there. A lot of times it comes down to lead time."
This year, the company introduced the RSN low-profile stair nose, which can be installed flush or overlap. New Versaflex flexible moldings are available in seven popular shapes and are paintable and stainable. The company is also planning a new website and user-friendly e-commerce experience .
Versatrim moldings are available in 12 profiles including SlimTrim, Slim Cap, T-Molding, Reducer, End Cap, Round Stair Nose, VersaEdge Standard, Wall Base, Colonial Base, Base Shoe, and Quarter Round, most of which are offered in standard or waterproof. Versatrim transitions provide coverage for nearly any flooring thickness. All moldings are 94″ (7’10”) long.
"Other vendors don't go to market the same way, and I believe there's a lot of opportunity to serve the industry," Hessler noted.
