Sun Capital Acquires Powell

January 17, 2007  by in UnCategorized   

By Home Furnishings Business in Case Goods on January 2007 An affiliate of private investment firm Sun Capital Partners has acquired case goods and occasional importer L. Powell Co. of Culver City, Calif., for an undisclosed amount.

Current management, including President and CEO Bill Benton, will continue to operate the company.

“This transaction is a great opportunity for our Company as well as its employees, suppliers, and valued customers,” Benton said in a release. “With the financial sponsorship of Sun Capital Partners and its affiliates, we will be able to continue to grow our organization at an aggressive pace while enhancing our value proposition and reputation for superlative customer service. I would like to personally thank Rick Powell and his father, Larry, for their insight and diligence in building this wonderful company and for allowing the current management team the opportunity to take it to the next level.”

Powell’s line includes jewelry armoires, youth furniture, home entertainment products, casual dining, and a variety of home accent collections, including its licensed Michael Payne Collections.

“Under the leadership of Bill Benton, Powell has made impressive efforts to augment and improve its product diversification, speed to market, sales and marketing programs, and customer service,” Jason H. Neimark, Managing Director, Sun Capital Partners. “We are looking forward to working with Bill and the management team to help support the Company’s future growth.”

Sun Capital Partners’ and its affiliates’ other furniture holdings include vendor Lexington Home Brands and retailers Mattress Firm, Nationwide Furniture and Wickes.