Clearview Capital has exited its investment in Hillsdale Furniture with the sale of the company to an investor group led by Brookside Equity Partners and management.
Hillsdale Furniture is a designer, importer and marketer of residential furniture. Hillsdale Furniture was created when Clearview, in partnership with management, acquired Hillsdale House and Hillstreet Furniture in October 2003. The transaction facilitated the combination of the two companies which had had a cooperative arrangement since the founding of Hillstreet in 1997. Hillsdale Furniture is based in Louisville, KY (www.hillsdalefurniture.com).
“Despite an extraordinarily difficult environment for furniture companies that resulted in wrenching change throughout the industry, Hillsdale’s terrific management team achieved market share gains and consistent profitability during the course of our investment”, said Calvin Neider, Co-Managing Partner of Clearview Capital. “We part with Hillsdale knowing the company will continue to thrive with its new equity partners.”
Green, Holcomb & Fisher served as financial advisor and Loeb & Loeb served as legal advisor to Hillsdale Furniture.
Clearview Capital invests in mid-sized manufacturing and service companies that have cash flow between $4 million and $20 million. Clearview has in excess of $250 million under management and is currently making investments through its committed fund, Clearview Capital Fund II, LP. The firm is headquartered in Old Greenwich, CT (www.ClearviewCap.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-25-13