Outdoor casual furniture supplier Brown Jordan International Inc. has acquired the outstanding equity interests of Tropitone Furniture Co. Inc., a competing manufacturer and seller of outdoor furniture. The acquisition combines the two casual furniture providers into one company with nearly US$400 million in net sales. The combined company will be headquartered in St. Augustine, FL. Financial details of this transaction have not been disclosed.
Founded in 1954, Tropitone Furniture Co. Inc. is a designer, manufacturer and distributor of outdoor furniture.
Brown Jordan International Inc. is a leading designer, manufacturer and marketer of quality home furnishings and contract furnishings, selling a full range of products. The company offers innovative designs, superior quality, efficient production methods and a strong portfolio of recognized brands including Brown Jordan, Winston, Casual Living, Charter, Lodging by Liberty, Wabash and Winston Contract.
Pfingsten Partners is an operationally-driven private equity firm focused on long-term value creation. From their headquarters in Chicago, and representative offices in ChangAn, China, and New Delhi, India, they help businesses in ways few private equity firms can, applying their unique operational and global resources to offer real solutions to their companies, unlocking value and propelling growth.
Oaklins' team in Los Angeles served as financial advisor to Tropitone in this transaction.
Gary S. Rabishaw
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