By: Furniture World Magazine\u00c2\u00a0
\nParallel Investment Partners, a leading private
\n\t\t
\nequity firm investing in privately held, lower middle-market growth companies in the United States, has sponsored a buyout of Mealey\u00e2\u20ac\u2122s Furniture and Mattress, a high-quality, moderately priced furniture retailer in the greater Philadelphia area.<\/p>\n
Mealey\u00e2\u20ac\u2122s was formed in 1970 in northeast Philadelphia as a single-store family proprietorship. In the mid-1980s, the founder\u00e2\u20ac\u2122s two sons, Dan and Kevin Mealey, ascended to the management and leadership of the company, which has enjoyed strong growth over the past two decades and currently operates three furniture super stores, one clearance outlet and a large warehouse and distribution facility. Mealey\u00e2\u20ac\u2122s has established a very strong market position and value proposition with its customers by offering a more contemporary merchandise mix at everyday low prices supported by superior service.<\/p>\n
\u00e2\u20ac\u0153Mealey\u00e2\u20ac\u2122s consistent ability to sell high-quality products with quick delivery at reasonable prices has allowed them to grow into a strong competitor in their core market area,\u00e2\u20ac\u009d said Parallel Managing Director Barron Fletcher. \u00e2\u20ac\u0153Together with the Mealey brothers and the management team, our goal is to build on Mealey\u00e2\u20ac\u2122s strong foundation and grow our core Philadelphia metropolitan market during the next several years.\u00e2\u20ac\u009d<\/p>\n
The Mealey brothers will remain engaged with the company, working with Parallel to institutionalize their knowledge of the furniture business and continue building the management team and infrastructure. Parallel has already identified several potential locations for new Mealey\u00e2\u20ac\u2122s units in the company\u00e2\u20ac\u2122s core market area.<\/p>\n
\u00e2\u20ac\u0153One of Mealey\u00e2\u20ac\u2122s core philosophies has always been to exceed customer expectations,\u00e2\u20ac\u009d said Dan Mealey. \u00e2\u20ac\u0153We feel confident that our new relationship with Parallel will allow the company to execute on its long-term growth plans without compromising the dependability and quality of the Mealey\u00e2\u20ac\u2122s concept.\u00e2\u20ac\u009d<\/p>\n
About Parallel Investment Partners
\nParallel Investment Partners is a leading private equity firm investing in privately held, lower middle market growth companies. Parallel currently manages approximately $400 million in institutional capital commitments. Parallel’s mission is to generate superior risk-adjusted returns through creating strong partnerships with management and emphasizing value creation through growth. Parallel seeks to partner with company owners and managers who want a financial partner that brings the experience, resources and capital to help them achieve their goals. Parallel has invested in more than 20 entrepreneurially led growth companies since its inception in 1999. Parallel is headquartered in Dallas, Texas, and has an office in Los Angeles, Calif. For more information on Parallel, please visit www.parallelip.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
By: Furniture World Magazine\u00c2\u00a0 Parallel Investment Partners, a leading private<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3236","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=3236"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3236\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}