Novacap, a private equity firm, completed the acquisition of a majority stake in Foliot Furniture, a designer and manufacturer of quality furnishings for the hospitality and educational housing sectors. Financial terms were not disclosed. "Novacap recognizes Daniel Foliot's success and the passion that drives him, we found in him and his team the same values as ours. We are convinced that the current management team is world-class and that the combination of their expertise with ours will allow Foliot Furniture to continue its momentum. We are all very excited about working with the Foliot team," Michel Toutant, Novacap Senior Partner.