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Announced

Completed

Novacap-backed Bestar completed the acquisition of Bush Industries from Ironwood.

Financials

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Transaction Value£115m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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furniture

Majority

Single Bidder

Private

Household Furnishings

Private Equity

United States

Acquisition

Friendly

Domestic

Completed

Synopsis

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Novacap-backed Bestar, a designer and manufacturer of ready-to-assemble furniture, completed the acquisition of Bush Industries, a manufacturer of case goods and RTA furniture for the office and home, from Ironwood Capital, a Connecticut-based private equity firm. "Bestar's goal is to concentrate their efforts on e-commerce solution for home/office furniture. Bestar's and Bush's leadership teams see a significant and fast-growing market opportunity for furniture sold online and shipped directly to the end consumer. This emerging business model provides furniture consumers a convenient, rapid and affordable shopping solution," Frederick Perrault, Novacap Senior Partner, and Bestar Chairman.

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