Furniture Today,
DELRAY BEACH, Fla. — Private investment firm Trivest Partners L.P.

is acquiring a majority stake in electric fireplace and bathroom furniture specialist Twin-Star International.

Twin-Star announced on Thursday that company founders Mark Asofsky and Michael D. Horvitz are selling a majority ownership stake in the company to Trivest.

A company press release said the two will continue to hold a significant ownership interest and also will continue to lead Twin-Star’s operations. Horvitz is president and Asofsky is senior vice president.

Twin-Star, which said it has nearly $100 million in revenues, markets electric fireplace units under the ClassicFlame and ChimneyFree brands. It sells bathroom vanity products under the Tresanti and Antiqua brand names.

Miami-based Trivest was founded in 1981 and has been involved in more than 130 acquisitions and recapitalizations totaling more than $3 billion, according to the company’s Web site. The site says the company favors investing in companies valued up to $250 million “which possess strong and defensible market positions in growing or fragmented industries.”

In a statement, Trivest managing partner Troy D. Templeton said that Twin-Star has similar characteristics to other of Trivest consumer product holdings including Aero Products International, Directed Electronics and Banana Boat. The company also said that Twin-Star’s sourcing and procurement in China are “sophisticated and scalable.”

“The Twin-Star transaction is consistent with Trivest’s long-standing investment strategy to acquire well run, founder-owned businesses,” Templeton said.

Twin-Star officials said the transaction will provide a solid foundation to support the company’s future growth.

“As we look to expand the breadth of the product line and distribution base, Trivest’s considerable experience in the consumer products arena should benefit our employees, distribution network and retail partners,” Horvitz said in a statement.