Art Van Furniture Sale To Private Equity

Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder.

Art van furniture sale to private equity.

The warren based retailer on wednesday announced a tentative deal to sell to thomas h. Boston based private equity firm thomas h. 14 report by crain s detroit which said art van s private equity owner thomas h. The sale price was not disclosed.

Michigan based furniture retailer art van furniture s private equity owner is reportedly exploring options of sale filing for bankruptcy. Art van furniture has reached a deal to sell the top 100 company to. The shutdown comes barely three years after private equity firm thomas h. The news reports fazio refers to all stem from a feb.

Lee partners of boston acquired art van in a 612 5 million buyout financed by the company itself. Art van elslander chairman and founder of. Art van elslander the deal to sell art van furniture inc. To a private equity firm is likely to mean the growth trajectory for the company will continue.

Subscribe now 99 per month. The warren based retailer on wednesday announced a tentative deal to sell to thomas h. Lee partners bought art van for 550 million in 2017 a year before the death of the furniture chain s founder in february 2018. The bankruptcy filing and closure came on the heels of the van elslander family selling the chain to boston based private equity firm thomas h.

Lee partners is exploring options including the sale and. The warren based retailer s sudden announcement that it would wind down operations comes only three years after its late founder art van elslander sold the. Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder. The deal is slated to close in february.

Art van began its final sale friday.