Trivest buys Twin-Star stake
By Furniture Today Staff -- Furniture Today, May 7, 2007
Delray Beach, Fla. — Private investment firm Trivest Partners L.P. is acquiring a majority stake in electric fireplace and bathroom furniture specialist Twin-Star International.
Twin-Star said last week that company founders Mark Asofsky and Michael D. Horvitz are selling a majority ownership stake in the company to Trivest.
A company press release said the two will continue to hold a significant ownership interest and also will continue to lead Twin-Star's operations. Horvitz is president and Asofsky is senior vice president.
Twin-Star, which said it has nearly $100 million in revenues, markets electric fireplace units under the ClassicFlame and ChimneyFree brands. It sells bathroom vanity products under the Tresanti and Antiqua brand names.
"The Twin-Star transaction is consistent with Trivest's long-standing investment strategy to acquire well-run, founder-owned businesses," said Trivest managing partner Troy D. Templeton.
