Town & Country Holdings Inc (T&C) has acquired Amalgamated Textiles USA, a Montréal-based supplier of window treatments and hardware.
No financial terms were disclosed for the acquisition, which was announced alongside T&C’s buy of Home Dynamix LLC, a U.S. wholesaler of floor rugs, mats and bedding.
Lakewood, New Jersey-based T&C is the parent of Town & Country Living, a supplier of table linens, kitchen textiles, rugs and other products. The company said the deals add to its product line and expand its retail footprint.
T&C was acquired in January by U.S. private equity firm HIG Capital.
Town & Country Holdings, an H.I.G. Capital Portfolio Company, Completes the Acquisitions of Home Dynamix and Amalgamated Textiles USA
BOSTON — H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $25 billion of equity capital under management, is pleased to announce that one of its portfolio companies, Town & Country Holdings, Inc. (“T&C”) has acquired Home Dynamix LLC (“HDX”), a leading wholesaler of floor rugs, mats and bedding, headquartered in North Arlington, New Jersey, and Amalgamated Textiles USA (“ATI”), a leading supplier of window treatments and hardware, headquartered in Montreal, Quebec.
T&C, already the recognized leader in table linens, kitchen textiles, rugs, and innovative solution-based home products, will now offer additional home textiles products spanning across floor and accent rugs, bedding, pet beds, decorative pillows, window treatments, and window hardware. Through these acquisitions, T&C has expanded its sizeable footprint of major retailers across the globe, supplying both licensed programs and private label programs, as well its capabilities in ecommerce sales and fulfillment.
David Beyda, Chairman of Town and Country Holdings, and CEO of the combined entity, said: “We are pleased to welcome both Home Dynamix and Amalgamated Textiles into the Town & Country family. We have a deep respect for the people and products that have made these companies successful. The acquisitions of Home Dynamix and Amalgamated Textiles are in line with our long-term strategy to grow T&C into a diversified, multi-channel and multi-product leader.”
“We are extremely excited to materially expand T&C’s customer base and product offerings so quickly after our initial investment, “ added H.I.G. Managing Director Todd Ofenloch. “Both HDX and ATI bring significant management experience, product expertise, and successful track records that immediately bolster T&C’s efforts to execute on our long-term strategy.”
Rami Evar, President of Home Dynamix, said: “We are thrilled to partner up with a very respected, dedicated and passionate team in the home furnishing space. We strongly believe that joining Town & Country and H.I.G. will lead to a strong next chapter of our combined business.”
“We are very pleased to partner with Town & Country and H.I.G.,” said Bobby Stoller, President and CEO of Amalgamated Textiles. “They have demonstrated an understanding of our vision for the business, an appreciation for how we have differentiated ourselves in the market and they have the expertise to allow us to accelerate our growth and serve our customers.”
The consummation of these two add-on acquisitions represents the successful completion of the first phase of H.I.G.’s investment strategy for Town & Country following the initial platform investment completed in January 2018. Town & Country will continue to pursue acquisitions in the home textiles and accessories sector.
About Home Dynamix LLC
Home Dynamix is a leading designer and supplier of rugs, mats, bedding, bath mats and decorative home products throughout North America. The Home Dynamix team shops the world for wonderfully designed merchandise and partners with diverse manufacturers to provide high quality and unique products, both through licensed brands and private label programs.
About Amalgamated Textiles USA
Amalgamated Textiles USA is a leading North American distributor of ready-made window treatments and hardware. The company designs, manufactures and distributes products to major brick and mortar and e-commerce retailers throughout the United States, Canada and Europe. Over the past 15 years, Amalgamated Textiles has developed and sold an extensive library of designs for its customers and is recognized as an innovator of fashion-forward home fashion products at affordable prices that consistently meet and exceed customer expectations.
About Town & Country Holdings, Inc.
Town & Country is a leading supplier of kitchen textiles, table linens, bath textiles and accessories, performance and decorative rugs and mats, and other home products to retailers throughout North America. With a history of long-tenured customer relationships, Town & Country has built a service track record, robust sourcing platform, and a unique inventory and supply-chain management system enabling the Company to become the preferred provider of kitchen and table linen products to the world’s largest retailers.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $25 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.