• Thomas Russell

Four Hands management acquires majority stake in company

AUSTIN, Texas — Four Hands CEO Matt Briggs has led a management buyout of case goods and upholstery resource Four Hands from Kayne Anderson Capital Advisors, a private equity partner.

 Image of Matt BriggsMatt Briggs

The deal gives Briggs and members of his executive team a majority ownership stake in the company, while company founder Brett Hatton and Kayne Capital will have a minority stake.

Officials did not disclose terms of the recently completed deal. Nor did they disclose the names of other members of the executive team that now have ownership in the company.

Kayne Anderson Capital Advisors was founded in 1984 and manages about $24 billion in assets. It has been involved with Four Hands since around 2006.

"The team at Kayne Capital has been exceptional to work with over the past seven years," Briggs said in a statement. "They have enabled us to make key decisions and execute a solid business strategy that has led to the tremendous growth and momentum we have achieved."

The company did not disclose its sales, but said the business has grown 250% in the past five years.

Briggs added that the ownership change will not result in any major strategic changes at the company, which produces case goods made with reclaimed and sustainable materials.

"While this deal will be remembered as a notable milestone in the history of Four Hands, it will not serve as a catalyst for any significant change in the direction we've been heading," Briggs said. "Simply stated, it puts our team in charge of our own destiny."

"We have enjoyed working with Matt and the Four Hands management team - they have been superb partners," said Doyle Burkett, a partner at Kayne Anderson. "They've done an impressive job of expanding the business, and we believe further opportunities remain. Consequently, we are excited to continue our partnership as they lay the path for the company's future."

Thomas RussellThomas Russell | Associate Editor, FurnitureToday

I'm Tom Russell and have worked at Furniture/Today since August 2003. Since then, I have covered the international side of the business from a logistics and sourcing standpoint. Since then, I also have visited several furniture trade shows and manufacturing plants in Asia, which has helped me gain perspective about the industry in that part of the world. As I continue covering the import side of the business, I look forward to building on that knowledge base through conversations with industry officials and future overseas plant tours. From time to time, I will file news and other industry perspectives online and, as always, welcome your response to these Web postings.


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