Elements acquires TM International's assets
Thomas Russell -- Furniture Today, November 18, 2011
ROCKWALL, Texas - Case goods importer Elements International Group LLC has purchased the assets of case goods and upholstery importer TM International.
Officials did not reveal a purchase price or other details of the deal, including how many former TM International employees will join Elements.
Elements President Mike Wurster said the purchase will allow Elements, which specializes in promotional to middle priced bedroom furniture, to tap into a broader customer base through TM International's promotional to middle priced assortment of bedroom, dining room and stationary and motion upholstery.
"TM International has long been stiff competition in our market, and we are pleased to work with their products and customers as part of Elements going forward," Wurster said in a statement.
He added that the purchase also will allow Elements to add some overseas vendors, particularly in China, where TM International has sourced most of its product line. Like Elements, it sources its bedroom primarily from Vietnam and Malaysia.
Elements said that it will assume all new orders for TM International and that it expects to complete the transition before the end of the year.
The purchase also marks the retirement of TM International's Ron O'Dell, a former Pier 1 Imports merchandise manager who began his career in the import business in 1969. He and Pier 1 founder Luther Henderson formed a company, originally called Trade Masters and later renamed TM International, in 1995.
"I am almost 65 and wanted to slow down and spend a little more time with family and also devote some time to my hobbies," he said, adding that the two companies have been in discussions for about four months.
-
Elements acquires assets of TM International
Oct 23, 2011
Merinos Home Furnishings opening display room, Boyles addition
‘Mega vessels' likely to boost capacity, stabilize freight rates
HOM Furniture adds flooring to six Twin Cities stores
Dan Masters joins Furniture Brands as VP, business development
21 companies from Turkey, Taiwan and China to exhibit at Showtime
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
VIEW ALL GALLERIES
