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Stylus Founders Repurchase Company
March 2,
2010 by in UnCategorized 
By Home Furnishings Business in Acquisition on March 3, 2010
The founding families of upholstery producer Stylus, Made to Order Sofas have completed the repurchase of the company's assets from Terravest Inds.
The reacquisition comes five years after Terravest purchased an 80 percent equity position in the Vancouver, British Columbia-based company.
We are extremely excited by the prospect of returning to our original structure," said Rick Ripoli, president. "We believe the agility provided by a closely held, private company will best allow Stylus to take advantage of the opportunities available. While Stylus involvement in Terravest has been mutually beneficial we feel a less structured atmosphere will allow Stylus management team to create a more collaborative environment. Further, the family values that have guided our business will once again return to the forefront.
The new parent company, Stylus Sofas Inc, is a wholly owned corporation by Styluss current senior executives, Rick Ripoli, Dennis Ripoli and Derek Barichello. This will allow for a nearly seamless exchange that will not interrupt Stylus business.
Stylus was established in 1959 and sells through a network of independent retailers in Canada and the United States. Stylus operates a 90,000-square-foot manufacturing facility and a 60,000-square-foot distribution center in Burnaby, British Columbia.