ORIX Mezzanine & Private Equity has exited its stake in Perennials and Sutherland LLC. No financial terms were disclosed. OMPE teamed up with Acacia Partners to invest in Perennials and Sutherland in December 2015. Acadia has also exited its stake in the company as a result of Bertram Capital investing in Perennials. Dallas-based Perennials is a designer of acrylic performance fabric and rugs for indoor and outdoor use and luxury outdoor furniture.
DALLAS (Feb. 26, 2019) ORIX Mezzanine & Private Equity (OMPE), a business unit of ORIX Corporation USA, is pleased to announce the successful exit of its equity investment in Perennials and Sutherland LLC. OMPE partnered with Acacia Partners on the investment in December of 2015.
“We are very pleased with the outcome of our investment,” said Jeff Sangalis, head of OMPE. “Perennials and Sutherland, along with Acacia Partners, worked incredibly hard to increase the value of the brand, invest for growth and solidify its position as a leader within its market. We are thankful for their effort and dedication to making this a great equity investment.”
Perennials and Sutherland is a leading designer and manufacturer of solution-dyed acrylic performance fabric and rugs for indoor and outdoor use, as well as luxury outdoor furniture. The Dallas-based company also manages a number of showrooms, studios and boutiques across the country.
“The OMPE team was a pleasure to work with,” said Ann Sutherland, co-founder and CEO of Perennials and Sutherland. “They were strategic and thoughtful board participants and were very supportive of our many initiatives. We are extremely grateful for their contributions over the past few years.”
Brad Johl, founder of Acacia Partners, said, “OMPE has been a tremendous equity partner throughout our investment in Perennials and Sutherland. They were proactive investors who contributed greatly to a number of key decisions that we made over the past three years. Their unwavering support helped us create substantial value at exit for our partners and investors. We have now invested in three deals with OMPE and look forward to continuing our partnership with them going forward.”
About ORIX Mezzanine & Private Equity
ORIX Mezzanine & Private Equity expands alternatives for lower-mid to middle-market companies throughout North America by offering standalone equity investments (control and non-control), flexible mezzanine capital or a combination of the two strategies. Investments are predominantly with independent sponsors and also include investments with funded equity sponsors, family offices, and directly with entrepreneurs and management teams. Typical investments are initially in the $10 million to $20 million range with the ability to further grow to support OMPE’s clients’ success. For more information on OMPE visit www.orixmpe.com.
About ORIX USA Corporation
ORIX Mezzanine & Private Equity is a business unit of ORIX Corporation USA (ORIX USA), a Dallas-based financial services firm providing innovative capital solutions since 1981. ORIX USA and its subsidiaries—Boston Financial Investment Management, Lancaster Pollard, NXT Capital, Mariner Investment Group, RB Capital and RED Capital Group—include a team of more than 1,000 employees spanning 30+ offices across the U.S. and Brazil. ORIX USA and its family of companies have $63 billion of assets under management, administration and servicing (including more than $10 billion held by the company and its subsidiaries). Its parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 38 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information on ORIX Mezzanine & Private Equity, visit www.orixmpe.com or www.orix.com.
About Acacia Partners LLC
Acacia Partners is a private investment firm based in Austin, Texas, that invests only in family-owned and owner-operated companies seeking equity capital ranging from $20 million to $100 million. Acacia offers a unique alternative to traditional private equity for business owners that prioritize our differentiated approach and are interested in maintaining a meaningful equity stake alongside our investment.
About Perennials and Sutherland LLC
The Perennials and Sutherland group of companies are acknowledged leaders in the international design industry. The company excels at collaborating with leading designers to produce the finest luxury furniture, fabrics and accessories. David Sutherland Showrooms are exclusive to the trade and represent the finest in home furnishings, fabrics and accessories, along with the company’s signature Perennials and Sutherland brands. Sutherland and Perennials Studios present a showcase collection of the very latest from the Perennials and Sutherland collections.