M&A Deal Summary

Bestar Acquires Bush Industries

On January 14, 2020, Bestar acquired furniture company Bush Industries from Ironwood Capital

Acquisition Highlights
  • This is Bestar’s 1st transaction in the Furniture sector.
  • This is Bestar’s 1st transaction in the United States.
  • This is Bestar’s 1st transaction in New York.

M&A Deal Summary
Date 2020-01-14
Target Bush Industries
Sector Furniture
Buyer(s) Bestar
Sellers(s) Ironwood Capital
Deal Type Add-on Acquisition

Target

Bush Industries

Jamestown, New York, United States
Bush Industries, Inc. is a manufacturer and distributor of high quality, affordably priced “ready to assemble” and fully assembled commercial and household office furniture. Bush Industries, Inc. has over 300 employees and is headquartered in Jamestown, New York with additional distribution facilities in Erie, Pennsylvania and Reno, Nevada.

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Buyer(S) 1

Buyer

Bestar

Lac-Megantic, Quebec, Canada
Category Company
Founded 1948
Sector Furniture
Employees150
DESCRIPTION

Bestar is a designer, manufacturer and distributor of ready-to-assemble furnishings that meet the needs of consumers in terms of quality, design and functionality. Bestar was founded in 1948 and is based in Lac-Megantic, Quebec.

DEAL STATS #
Overall 1 of 1
Sector (Furniture) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 1

SELLER

Ironwood Capital

Avon, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1986
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Ironwood Capital is a private investment firm that makes equity and subordinated debt investments in lower middle-market companies. Investment proceeds are generally used to support leveraged buyouts, growth financings, and recapitalizations. Investments typically range from $10 to $40 million in companies generating $20 to $250 million in annual sales. Target sectors include healthcare products/services, value-added manufacturing, business services, consumer products, specialty distribution, and education. Ironwood prefers opportunities East of the Mississippi, but will selectively consider investments in the Western US. The Firm's investment horizon is three to five years. Ironwood Capital was formed in 2002 and is based in Avon, Connecticut.

DEAL STATS #
Overall 35 of 53
Sector (Furniture) 1 of 1
Type (Add-on Acquisition) 23 of 32
State (New York) 3 of 3
Country (United States) 35 of 53
Year (2020) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Gemcity Engineering and Manufacturing

Dayton, Ohio, United States

Gemcity Engineering and Manufacturing is a contract and specialized equipment manufacturer of highly engineered products serving the defense, healthcare, semiconductor, and industrial machinery markets. Gemcity Engineering and Manufacturing is based in Dayton, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-23 Denali

Russellville, Arkansas, United States

Denali is a provider of specialty waste and environmental recycling and disposal services in the United States, performing mission-critical daily organic waste collection, processing, recycling, and disposal for municipal, industrial food processing and downstream industrial customers. Denali is based in Russellville, Arkansas.

Sell -
Mergr

Product

Company

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