MCM Capital Partners Acquires Stylecraft Home Collection
MCM CAPITAL PARTNERS ACQUIRES STYLECRAFT HOME COLLECTION AND PLANS AGGRESSIVE, TOP-LINE GROWTH
Expansion Eyed in Multiple Markets
July 2009
CLEVELAND, OHIO – MCM Capital Partners (“MCM”), a Cleveland, Ohio-based microcap private equity firm dedicated to investing in microcap private businesses generating less than $75 million in annual revenues, has acquired StyleCraft Home Collection, Inc. (“StyleCraft”), one of the nation’s leading suppliers of residential lighting and home décor products.
Founded in 1968, South Haven, Mississippi-based StyleCraft features the broadest product offering in the mid-priced portable lamp segment, with more than 700 SKUs of traditional-style consumer portable table and floor lamps. Additionally, StyleCraft offers a variety of wall décor, mirrors, decorative accessories and decorative furniture. The company differentiates itself with its unique ability to deliver “great design at a great price”. StyleCraft lamps are distributed to all major retail channels, including independent retail stores, specialty home décor retailers, mass merchants, home centers and department stores. Financial terms of the transaction are not being disclosed.
Moving forward, MCM will work alongside Jim Webster, StyleCraft’s founder, to build new customer relationships, extend and expand product lines, enhance information technology systems and grow supply chain management capabilities. The Company possesses several distinct competitive advantages that, over time, have earned it national recognition as an industry leader: StyleCraft supplies products into multiple categories and, consequently, offers a one-stop sourcing alternative for its retail partners in a highly fragmented industry; it has multiple channels of distribution, thus lessening its dependence upon any one channel; it supplies a stable base of more than 2,000 customers in the U.S. and Canada; and its management team is experienced, well known and respected within the industry.
“We believe that StyleCraft is uniquely poised for substantial growth,” said Jay Poffenberger, Managing Director, MCM Capital Partners. “While not recession proof, StyleCraft’s end markets have not been contracted to the degree of the overall furniture industry . Additionally, CEO Jim Webster and his management team have successfully grown through prior recessions. This talented and highly respected group will form the foundation for StyleCraft’s success.”
“I am tremendously excited to work hand-in-hand with the professionals at MCM to generate new value-driven opportunities for StyleCraft,” said Webster. “Our company is well-positioned to leverage its core strengths as a means to developing broader capabilities and greater market share.”
