Furniture Today,
\nDELRAY BEACH, Fla. \u00e2\u20ac\u201d Private investment firm Trivest Partners L.P.
\n\t\t
\nis acquiring a majority stake in electric fireplace and bathroom furniture specialist Twin-Star International.<\/p>\n
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.<\/p>\n
A company press release said the two will continue to hold a significant ownership interest and also will continue to lead Twin-Star\u00e2\u20ac\u2122s operations. Horvitz is president and Asofsky is senior vice president.<\/p>\n
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.<\/p>\n
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\u00e2\u20ac\u2122s Web site. The site says the company favors investing in companies valued up to $250 million \u00e2\u20ac\u0153which possess strong and defensible market positions in growing or fragmented industries.\u00e2\u20ac\u009d<\/p>\n
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\u00e2\u20ac\u2122s sourcing and procurement in China are \u00e2\u20ac\u0153sophisticated and scalable.\u00e2\u20ac\u009d<\/p>\n
\u00e2\u20ac\u0153The Twin-Star transaction is consistent with Trivest\u00e2\u20ac\u2122s long-standing investment strategy to acquire well run, founder-owned businesses,\u00e2\u20ac\u009d Templeton said.<\/p>\n
Twin-Star officials said the transaction will provide a solid foundation to support the company\u00e2\u20ac\u2122s future growth.<\/p>\n
\u00e2\u20ac\u0153As we look to expand the breadth of the product line and distribution base, Trivest\u00e2\u20ac\u2122s considerable experience in the consumer products arena should benefit our employees, distribution network and retail partners,\u00e2\u20ac\u009d Horvitz said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Furniture Today, DELRAY BEACH, Fla. \u00e2\u20ac\u201d Private investment firm Trivest Partners L.P.<\/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-3932","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\/3932","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=3932"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3932\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}