Private equity group acquires RTA specialist Tvilum
, December 23, 2013
LOS ANGELES — Revolution Capital Group announced Friday that it had completed an acquisition of Tvilum ApS, the Denmark-based flat-pack furniture manufacturer, from Masco Corp.
Tvilum produces 8 million items of ready-to-assemble furniture each year at its four factories in Denmark and distributes them to markets around the world, including Europe and the Americas.
Building and home products supplier Masco had announced its intention to sell the subsidiary early this year. Terms of the deal were not disclosed.
Tvilum "is a truly global business that fits well with Revolution's strategy to expand our portfolio into Europe," said Robert Loring, founder and managing partner of Revolution Capital Group, also the private equity owners of companies including The Tampa Tribune newspaper. "It affirms our commitment to acquire outstanding businesses and drive growth in international markets."
Tvilum employs approximately 1,000 people and was founded in 1965, a press release said.
Revolution Capital officials were not immediately available for further comment.