Equity Firm Acquires Mealey’s Furniture

February 6, 2007  by in UnCategorized   

By Home Furnishings Business in on February 2007 Mealey’s Furniture and Mattress, a four-store chain based in Bensalem, Pa., has been acquired by Parallel Investment Partners, a Dallas-based private equity firm with plans to expand the business.

In an announcement Tuesday, Parallel officials said the retailer’s current leaders, Dan Mealey and Kevin Mealy, will remain with the 37-year-old company, which had been family owned. Mealey’s has won attention in recent years as one of the first retailers of its size to offer same-day delivery.

“One of Mealey’s core philosophies has always been to exceed customer expectations,” said Dan Mealey. “We feel confident that our new relationship with Parallel will allow the company to execute on its long-term growth plans without compromising the dependability and quality of the Mealey’s concept.”

Parallel, which has invested in more than 20 growth companies since 1999, has already identified several potential locations for expansion in Mealey’s home market, the greater Philadelphia area.