Standard Furniture Acquires Albany Industries

June 8, 2018  by Jason Schneider in Acquisition, Business Strategy, Industry   

The announcement was made by Aterian Investment Partners, a private equity firm.

Founded in 1995 by Hugh and Richie McLarty, Albany has established itself as a leading manufacturer of value-oriented stationary upholstery furniture. The business has a manufacturing footprint in Mississippi, Virginia, Vietnam, and Mexico with over 600 employees.

“This transaction and partnership with Standard Furniture and Aterian will continue the vision of the founders of Albany and the employee-owners, allowing the business to continue to flourish,” said Richard “Richie” McLarty, president and CEO of Albany. “I believe together both companies are stronger, with greater product breadth and market opportunities. I am appreciative of all the support of our customers, suppliers, and employees and look forward to being part of the Standard family.”

“Albany is an exceptional company with an excellent reputation in the marketplace. Their stationary upholstery line is a great complement to Standard’s case goods line and will allow for significant cross marketing and supply synergies for both companies,” said Todd Evans, CEO of Standard Furniture. “Our customers are very enthusiastic about the marriage of two legacy companies with complementary products and management teams … we welcome Richie and his team.”