Rugs Direct, which is backed by L2 Capital Partners, has acquired Lightopia, an omnichannel lighting retailer for residential customers and trade professionals. No financial terms were disclosed.
WINCHESTER, Va.–(BUSINESS WIRE)–Rugs Direct Holdings, LLC (“Rugs Direct”) recently completed the acquisition of Lightopia, LLC (“Lightopia”), an omnichannel lighting retailer for residential customers and trade professionals. Lightopia represents brands focused on contemporary design, quality materials and responsible manufacturing, and helps clients solve architectural and decorative lighting needs utilizing the latest LED lighting technology. The company has three retail locations and one warehouse in southern California and an online store at lightopiaonline.com.
Together, Rugs Direct and Lightopia are well-positioned to be a leader in the mid- to high-end home furnishings market. The combined company has an extensive product catalog of over 200 partner brands, a customer base of more than 400,000 residential, trade professional and commercial customers, and has grown revenues significantly in recent years.
“Category expansion is core to the long-term strategy of Rugs Direct, and we are thrilled to have Lightopia join us,” said Rugs Direct CEO, Myles Felsing. “We have recently seen success adding adjacent soft décor categories to our core area rugs assortment and see tremendous opportunity within the lighting category going forward. Our belief is that lighting often serves as a key starting point of an interior design or redecorating project, and area rugs are the finishing touch that ties it all together. Having two strong ecommerce brands in these cornerstone product categories positions us well for continued growth.”
Ken Vick, Principal of Lightopia, said, “Lightopia is excited to partner with Rugs Direct and its strong marketing, merchandising, and technology capabilities. These are the ingredients we needed to grow so it’s a perfect fit.”
Felsing went onto say, “From early conversations with Ken, we recognized how well the companies were aligned culturally. Both have a passion for good design, a commitment to getting it right for the customer, and understand the importance of working together as a team. I am looking forward to thoughtfully integrating these two companies to take our category-focused brand-positioning to the next level.”
Myles Felsing will be CEO of the combined company and Ken Vick will serve as Executive Vice President, Sales.
About Rugs Direct
Since 1998, Rugs Direct been a market-leading specialty online retailer of decorative area rugs for consumers, professional designers, and commercial customers throughout the U.S. and Canada. The company partners with premium manufacturers including Chilewich, Jaipur Living, Loloi, Safavieh and Surya to offer a curated assortment of products on rugsdirect.com that prioritizes quality construction, materials, and design. Rugs Direct provides its users easy ways to shop for the perfect area rug, including a ‘see this rug in your room’ interactive feature and a ‘design finder’ quiz.
Rugs Direct is backed by L2 Capital Partners, a private equity firm that specializes in making equity investments in a diverse group of lower-middle-market businesses.
Lightopia is an omnichannel lighting retailer for residential customers and trade professionals. The company offers contemporary and modern lighting products for both decorative and architectural projects throughout the US. Lightopia operates out of three retail locations and one warehouse in Southern California and an ecommerce store at Lightopiaonline.com.