Stainsafe, Multimaster merge, form Global Care
By Jay McIntosh -- Furniture Today, August 10, 2008
PALM BEACH GARDENS, Fla. — Furniture care and warranty program providers Stainsafe and Multimaster North America have merged to form Global Care Solutions LLC.
Palm Beach Capital, a private equity firm and majority owner of Stainsafe, and Uniters, an Italian manufacturer and distributor and majority owner of Multimaster, have ownership stakes in the new company.
Karen Gough, who has been executive vice president of Stainsafe, will be president and CEO of Global Care Solutions, which is based here. Gordian Tork, CEO of Uniters, will be chairman of the joint venture.
In a statement, Global Care Solutions said it will “capitalize and build upon the core competencies of Uniters, Stainsafe and Multimaster and will be the leading force in the furniture care and protection business.” Palm Beach Capital and Uniters said they have made capital investments in the new company, which will provide underwritten warranty programs and services for the home, automotive and boating care industries.
“We will have a new company name but many of the same great products,” Gough said in an interview. The new venture will continue with popular brands including Uniters' Leather Master and Textile Master and Stainsafe's GreenGard and will work on developing new products as well, she said.
It has not been determined whether the company will still use the Stainsafe name, said Gough.
“By bringing together and building upon the best of Stainsafe, Multimaster and Uniters, Global Care Solutions will provide customers and consumers with outstanding, top-quality solutions to effectively address their home care-related needs,” said Tork. “Providing great products and programs and outstanding customer service is how to win in this tough economic market, and that is exactly what Global Care Solutions is now set up to do.”
“We are excited to partner with Uniters and leverage the many synergies of all our companies in order to deliver maximum customer satisfaction,” said Mike Schmickle, Palm Beach Capital partner.
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