BOSTON – July 23, 2018 – 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 announced 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.