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Standard Furniture Expands into Stationary Upholstery Market with Acquisition of Albany Industries
Wednesday 13 June 2018

13 June 2018 - Alabama, US-based furniture manufacturer Standard Furniture Manufacturing Company, LLC, an affiliate of private equity firm Aterian Investment Partners, has acquired Mississippi, US-based stationary upholstery furniture manufacturer Albany Industries, Inc. to expand into the stationary upholstery market, the company said.

Terms of the transaction were not disclosed.

The combination of Standard Furniture and Albany Industries creates a top 10 industry resource with a full range of home furnishing products and services. 

Together, the business will benefit from each company's manufacturing and design capabilities, extensive supply chains and top notch sales and marketing teams in their continued pursuit of sustainable growth.

Albany is a leading manufacturer of value-oriented stationary upholstery to key retail partners. The business has a manufacturing footprint in Mississippi, Virginia, Vietnam, and Mexico with over 600 employees.

Standard Furniture is a leading designer, manufacturer and importer of bedroom collections, dining room collections, motion upholstery, accents and accessories.

Aterian Investment Partners provides resources to further enhance operations, growth and investment initiatives. The firm invests in businesses generating USD 25m to USD 500m of annual revenue with strong, proven franchises.

Stump and company and Choate Hall and Stewart LLP advised the seller on the transaction. Kirkland and Ellis LLP advised Aterian.
Details
Date Published: 13/06/2018
Target: Albany Industries
Country: USA
Sector: Furniture/Decorations/Home Furnishings
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: Standard Furniture Manufacturing
Buyer Advisor: Kirkland and Ellis
Comment:
Terms of the deal were not disclosed

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