Z Capital Partners has acquired Twin-Star International, a designer and manufacturer of electric fireplaces, home cabinetry and of consumer electronics.
Twin-Star designs and manufactures decorative electric fireplaces, heaters, home furnishings (television stands, speaker bars, cabinets, beds, and kitchen islands) and consumer electronics (headphones, power surge protectors and HDMI cables). Company owned brands include ClassicFlame, Duraflame, ChimneyFree, ClassicFlame Pro, Bell’O, Bell’O Digital, PowerHeat, and Safer Socket. Twin-Star was founded in 1996 and is headquartered north of Boca Raton in Delray Beach, FL with manufacturing facilities in Southern China (www.twinstarhome.com).
Twinstar’s co-presidents, Peter Harper and Marc Sculler, and EVP Andy Bandremer will continue to oversee daily operations of the company under Z Capital ownership.
Z Capital intends to grow Twin-Star by expanding the company’s established retail platform into additional channels – such as homebuilding, hotels and lodging, and commercial markets – and new geographies.
“As the market leader in the electrical heating and furniture industry, Twin-Star is well-positioned for continued growth and success,” said James Zenni, President and Chief Executive Officer of Z Capital.
Z Capital makes control investments in middle-market distressed companies, operational turnarounds and special situations. The firm targets companies with an enterprise value of less than $1 billion or EBITDA of less than $100 million. Sectors of interest include consumer products, steel and steel processors, agricultural, gaming, leisure, real estate, manufacturing, specialty services and automotive. Z Capital is based in the Chicago suburb of Lake Forest and has additional offices in New York and Zurich (www.zcap.net).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-27-16
