A group of Cincinnati investors led by an investment banking firm is acquiring a majority stake from the founders of family-owned Northern Kentucky manufacturing firm Stairtek Inc.
Mount Adams-based RKCA and the investment arm of Cincinnati-based Amend Consulting teamed up to buy out two of the three co-founders of Stairtek on Sept. 30 at an undisclosed price. The Erlanger-based company makes hardwood and laminate stair pieces. Those include the treads – the pieces people walk on – and the risers, or backing pieces that face people as they climb stairs. It sells its products to big-box retailers, flooring distributors and homebuilders.
Ken Schumacher, who had been CEO, and his wife, Carolyn, who was CFO, sold their ownership interest. They founded the company in December 2004 along with Ken’s nephew Jay Schumacher.
