Tile and stone installation products maker Custom Building Products said it has entered into an agreement with private equity investing firm Kelso & Co. of New York. By the terms of the agreement, affiliates of the New York firm will purchase "a significant stock interest in Custom Building Products," according to Custom. The manufacturer, which is based in Seal Beach, Calif., will maintain current business practices and continue operating under its existing management team, Custom said. Terms of the deal were not disclosed.

"The management of Custom Building Products looks forward to partnering with Kelso with the purpose of strengthening our company," said Thomas R. Peck II, president of Custom Building. "Our entire organization is fully committed to customer satisfaction and profitable market growth."

Frank K. Bynum Jr., managing director of Kelso, said that aligning itself with Custom was a natural fit. "Custom exemplifies the type of organization we seek to align ourselves with because it is customer focused, produces quality products and has an experienced group of key managers and loyal employees," he said.