H.I.G. Capital has acquired Town & Country Holdings, the parent company of Town & Country Living. This new investment by H.I.G. will serve as a platform for a build-up in the home textiles and accessories sector.
Town and Country Living (T&C) is 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, headquartered in Lakewood, NJ, was founded in 1954 and is a third generation family-owned business (www.tncliving.com).
“David and Jeffrey Beyda have successfully positioned T&C as a true partner to its customers and licensors. We believe T&C’s existing product and service offerings provide a great foundation for growth,” said Todd Ofenloch, Managing Director at H.I.G. “We look forward to working with the Beydas to grow the company.”
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 $22 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).
“H.I.G. is the right partner for us. They understand our history, our business today, and the future growth strategy required to take Town and Country to the next level. The H.I.G. team brings to bear tremendous resources that will enable us to execute on our growth strategy more quickly than we could on our own,” said David Beyda, T&C’s Chairman and CEO.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
© 2018 Private Equity Professional | January 31, 2018