$5.4M Adj. EBIDTA NA Value-add distributor of customer frame moulding and accessories

Seeking late-stage equity gap investment(s) to complete the capital stack. Project Delta is a vertically integrated leader in the custom picture frame moulding and display systems market, serving over 5,000 active customers across North America — including independent framers, galleries, and retailers. With $43.5M in revenue and $5.4M in EBITDA, Delta has built over 55-year reputation for quality, service, and reliability, boasting 90%+ recurring sales and less than 10% customer concentration. Led by the second generation of ownership, the business is facing a clear succession opportunity. Delta's resilient operations and national footprint position it as a platform for growth and consolidation in a fragmented, growing market. The North American custom frame moulding segment, the fastest-growing segment (8%+ CAGR) of the $25B wall décor industry, is benefitting from strong short and long term trends, GenZ entering the housing market, re-shoring of commercial framing primarily in the hospitality industry, and “phygital” that blend physical and digital experiences in art and décor. The incoming operator, Robert Vero, is an experienced CEO with over 20 years of operational and commercial leadership in manufacturing and distribution. Backed by two SBIC lenders, the transaction is expected to close in November 2025, with an attractive entry valuation and seller rollover participation. For more information, please request an NDA or email at redacted