Guardian Capital Partners acquired a majority stake in Sure Fit Inc., an Allentown, Pennsylvania-based provider of slipcovers and related accessories, from D.E. Shaw & Co.
Sure Fit’s product line includes slipcovers for sofas, loveseats, chairs, recliners, ottomans and futons as well as furniture throws and coordinating decorative pillows. The Company sells through major national retailers, its own website and other channels.
As steted by Hugh Rovit, CEO of the Company, the partnership with Guardian Capital Partners will enable the company to accelerate its initiatives in product, customer and channel expansion.
Wells Fargo Business Credit provided senior debt financing for the transaction and Argosy Private Equity and Bowside Capital provided additional financing and minority equity.
The management team of Sure Fit also co-invested equity alongside GCP.
FinSMEs
13/01/2010