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Affiliate of Sun Capital acquires Rowe Companies

30
Jan '07
Rowe Furniture announced that the sale of the company to an affiliate of Sun Capital Partners Inc, called Lexington-Rowe Furniture Holding Corporation, is a done deal. The sale, approved by the United States Bankruptcy Court for the Eastern District of Virginia on January 19th, was closed at the end of last week.

Sun Capital Partners Inc is a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies. In addition to Rowe, they own Lexington Home Brands and Powell.

Gerald M. Birnbach, President and CEO of Rowe Furniture stated, “We are extremely pleased to have finalized this deal so quickly. This is extremely good news for our 825 employees, our loyal Dealers and suppliers who have worked closely with us through this process. Now we look forward to getting back to the normal course of business and focusing on what we do best - providing fashion-forward custom upholstery delivered quickly to our retail partners.”

Jason H. Neimark, Managing Director, Sun Capital Partners, added, “We too are excited about this deal. Rowe Furniture has been known as one of the preeminent custom upholstery manufacturers in the business for over 50 years. We look forward to working with their tenured and talented management team and dedicated employees as they continue to solidify their position in the industry and return to profitability.”

Rowe Furniture Inc


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