From Home Furnishing Business
Tvilum Acquired by Revolution Capital
Revolution bought Tvilum from Masco Corp. (NYSE: MAS). This marks Revolution's third acquisition this year.
“This is a truly global business that fits well with Revolution’s strategy to expand our portfolio into Europe," said Robert Loring, founder and managing partner of Revolution Capital Group. "It affirms our commitment to acquire outstanding businesses and drive growth in international markets."
Tvilum has four factories that produce eight million items of furniture a year. Its products are manufactured in Denmark and sold to retailers around the world. Tvilum employs about 1,000 people, and was founded in 1965.
“Tvilum is an exciting opportunity for Revolution Capital Group, and this acquisition caps off an excellent year for our firm," said Cyrus Nikou, founding partner of Revolution. "Heading into the new year, we look forward to helping existing management execute a growth strategy that creates long term value.”
In February, Masco announced its intent to sell Tvilum following a review of its business portfolio, which determined that this business was not core to its long-term growth strategy.