Hollander Home Fashions sells stake to Huntsman Gay Global Capital
-- Home Textiles Today, 7/31/2009 12:14:00 PM
Boca Raton, Fla. – Bedding manufacturer Hollander Home Fashions announced today it has received a strategic investment from Huntsman Gay Global Capital that will allow the company to grow organically and through strategic acquisitions.
The deal closed Tuesday night and involves a combination of equity and debt. Executive chairman Jeff Hollander declined to specify how much the deal was worth or how much of an equity position Huntsman Gay took.
“Hollander Home Fashions is still my family’s single largest investment,” he told HTT.
Huntsman Gay Global Capital is a new private equity concern that raised an initial $1.1 billion fund for investments and buyouts of middle-market companies. It was formed by industrialist Jon Huntsman and former Bain Capital chairman Robert Gay.
“We had our first board meeting yesterday, and I’m already seeing the value our new board members can bring. They are allowing [Hollander ceo Chris Baker] and myself to take the lead, come up with the vision and the strategy,” said Hollander. “But as we’re coming up with the strategy, they're helping us think about it in longer-term views, where we’re not just looking at the next 18 months, we’re looking at five years. And they are showing us ways and giving us contacts to have a better chance of success.”
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