home decor

H.I.G. Building Home Textiles Platform

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Town & Country Holdings, a portfolio company of H.I.G. Capital, has completed two add-on acquisitions with the buys of Home Dynamix and Amalgamated Textiles USA.

Home Dynamix is a designer and supplier of rugs, mats, bedding, bath mats and decorative home products. The company’s products are sold under licensed brands and private label programs and are sourced from third-party manufacturers.

Home Dynamix’s customers include Home Depot, Sam’s Club, Bed Bath & Beyond, HomeGoods, Overstock and Wayfair. The company was founded in 1986 and is headquartered in North Arlington, NJ (www.homedynamix.com).

Amalgamated Textiles USA designs, manufactures and distributes window treatments and related hardware to major brick and mortar and e-commerce retailers throughout the United States, Canada and Europe. The company is headquartered in Montreal.

Town & Country Holdings was formed by H.I.G. in January 2018 to acquire Town and Country Living (T&C), a supplier of kitchen textiles, table linens, bath textiles, performance and decorative rugs and mats, and other home products to retailers throughout North America. T&C’s customer base includes Bed Bath & Beyond, Big Lots, Bloomingdales, Costco, Kroger, Macy’s, Marshalls, Meijer, Nordstrom, Walmart and TJ Maxx. The company’s products are sold through both licensed brands and private label programs. T&C is led by CEO David Beyda and is headquartered in Lakewood, NJ (www.tncliving.com).

“We are extremely excited to materially expand T&C’s customer base and product offerings so quickly after our initial investment,” said H.I.G. Managing Director Todd Ofenloch. “Both Home Dynamix and Amalgamated Textiles bring significant management experience, product expertise, and successful track records that immediately bolster T&C’s efforts to execute on our long-term strategy to grow T&C into a diversified, multi-channel and multi-product leader.”

H.I.G. specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing and service businesses. H.I.G. has more than $25 billion of capital under management. The firm is based in Miami with additional offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro (www.higcapital.com).

© 2018 Private Equity Professional | July 25, 2018

Freeman Spogli Invests in Regent

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Freeman Spogli & Co. has made an investment in Regent Holding Company, a designer, marketer and supplier of home décor and accent products.

Regent markets its products through 12,000 independent and chain retailers in the US and over 3,500 customers in Europe. The company products – totaling more than 8,000 SKUs across more than 30 home décor product categories – are sold primarily under two trade brands, Creative Co-Op in the US and Bloomingville in Europe.  Products include jewelry, candle holders, clocks, coasters, decorative trays & bowls, frames, figurines & statues, and other home decor items. The company is led by its CEO Eugene Wang. Regent was founded in 2001 and is headquartered in Memphis (www.creativecoop.com).

“Regent is well-positioned as a critical link in the supply chain between independent retailers and low-cost overseas manufacturers, offering its customers a unique combination of product selection, customer service and reliability,” said Brad Brutocao, a Partner at Freeman Spogli.

Also investing in this transaction were the current owners – the Wang family – and the senior management of Regent. “The Wang family has successfully grown the company from a small regional operation to a recognized global competitor in the home décor category.  We are thrilled to be partnering with them and management in this next phase of growth,” added Mr. Brutoca.

Freeman Spogli invests in middle market consumer and distribution companies. Since its founding in 1983, the firm has invested over $3 billion in 52 portfolio companies with an aggregate transaction value of $20 billion.  Freeman Spogli has offices in Los Angeles and New York (www.freemanspogli.com).

Piper Jaffray (www.piperjaffray.com) was the exclusive financial advisor to Regent. Morgan, Lewis and Bockius (www.morganlewis.com) was the company’s legal advisor. Ropes & Gray (www.ropesgray.com) was the legal advisor to Freeman Spogli.

© 2015 PEPD • Private Equity’s Leading News Magazine • 11-5-15

Fort Point Capital Acquires Sullivans

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Fort Point Capital has acquired a majority equity interest in Sullivan, a designer and distributor of home décor products to specialty retailers.  Sullivans is Fort Point’s fifth platform investment for FPC Small Cap Fund I, a $93 million fund raised in 2012.

Fort Point Capital acquired Sullivans in partnership with Mark Miller and Fred Behziz, long-standing executives in the consumer products and specialty retail space.  Mr. Miller and Mr. Behziz will replace Mr. Bill Sullivan, the company’s president, who is retiring after 25 years of service.  The other members of Sullivans’ senior management team will continue on in their respective roles and are also investing in the transaction.

“We look forward to working with the management team at this exciting time,” said Christina Pai, principal at Fort Point Capital.  “Sullivans is an outstanding company that is in front of significant opportunity to broaden its customer base and product lines.”

Sullivan is a designer and distributor of seasonal and all-occasion home décor products to specialty retailers.  Sullivans was founded in 1968 and has been owned and run by the Sullivan family since inception.  The company is based in Sioux Falls, SD (www.sullivangift.com).

“I have worked with Fort Point Capital for two years to find the optimal platform in the consumer distribution space and appreciate their partnership and the opportunity they found for me to execute on our shared vision,” said Mr. Miller.

Fort Point Capital invests from $5 million to $25 million in service-oriented, lower middle market companies across a range of sectors, including business services, healthcare, consumer, and software and information. Fort Point Capital is currently investing from FPC Small Cap Fund I. The firm is based in Boston (www.fortpointcapital.com).

“My team and I were searching for a partner who would bring a leadership solution, as well as provide the strategic and financial resources for the company’s continued growth. We believe Fort Point is precisely the right partner to guide the company going forward and build upon my family’s 46 year legacy,” said Bill Sullivan, president of Sullivans.

2014 PEPD • Private Equity’s Leading News Magazine • 10-9-14

Linsalata Exits The Home Décor Companies

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Linsalata Capital Partners has sold its portfolio company, The Home Décor Companies, to Nielsen Bainbridge Group, a portfolio company of Kohlberg & Company.  Linsalata first invested in Home Décor in June 2004.

Home Décor provides a collection of decorative home accessories to retailers throughout North America. Product categories include portable lighting, wall décor, accent furniture, throws and pillows. The company has domestic operations in Pennsylvania, Mississippi, California and Arkansas and also has two product sourcing offices in China. The company is headquartered south of Memphis in Southaven, MS (www.thehomedecorcompanies.com).

Through its ownership period Linsalata completed three add-on acquisitions and supported operational and process management initiatives to improve the performance and efficiency of the business.

“Home Décor marks another successful investment for LinCap in the consumer sector. Together with management, we built a great business and we are proud of our partnership with the company and the team. We are confident the business will continue to grow and thrive as they move forward under new ownership,” said Gregg Taber, Managing Director of Linsalata Capital Partners.

Linsalata Capital Partners invests from $10 million to $50 million of equity in middle market companies in an array of industries that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. The firm is currently investing from Linsalata Capital Partners Fund VI, LP with $427 million in committed equity capital. The firm was founded in 1984 and is based near Cleveland in Mayfield Heights, OH (www.linsalatacapital.com).

Nielsen Bainbridge, acquired by Kohlberg & Company in 2006, is a designer, manufacturer and marketer of products for the custom and ready-made framing market. The company offers a range of custom framing products as well as ready-made frames and albums under a portfolio of brands, including Nielsen, Bainbridge, Nurre Caxton and Burnes. Nielsen Bainbridge is headquartered in Austin, TX (www.nielsenbainbridgegroup.com).

Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on transactions with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. Kohlberg & Company is currently investing its seventh private equity fund, Kohlberg Investors VII. The firm was founded in 1987 and is based in Mt. Kisco, NY (www.kohlberg.com).

2014 PEPD • Private Equity’s Leading News Magazine • 8-19-14