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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. Art Van Furniture announced Wednesday it will sell the company to a private equity firm. The deal to sell Art Van Furniture Inc. WARREN - Art Van Furniture Inc.
Lee Partners of Boston acquired Art Van in a 6125 million buyout financed by the company itself. The Warren-based furniture retailer with multiple stores in five Midwestern states said in a statement that it has signed a contract with Boston-based Thomas H. See thats how private.
TH Lee saw an opportunity to. Lee Partners THL is acquiring the company. Art Van Furniture will sell itself to a private equity firm after 58 years of ownership by its founder.
The sale price was not disclosed. Art Van Furnitures existing leadership which includes. 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.
The Warren-based retailer on Wednesday announced a tentative deal to sell. The deal is slated to close in February. Lee Partners a private equity firm in Boston.
Lee Partners bought Art Van for 550 million in 2017 a year before the death of the furniture chains founder in February 2018. Lee Partners LP in 2017 for an estimated 550 million from the companys founder Art Van Elslander. Art Van Furniture has reached a deal to sell the Top 100 company to private equity firm Thomas H.
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