Equity firm buys Hillsdale
Furniture Today Staff -- Furniture Today, February 4, 2013
OLD GREENWICH, Conn. - Private equity firm Clearview Capital said it has sold importer Hillsdale Furniture to an investor group led by Brookside Equity Partners.
Terms of the deal were not disclosed.
"Despite an extraordinarily difficult environment for furniture companies that resulted in wrenching change throughout the industry, Hillsdale's terrific management team achieved market share gains and consistent profitability during the course of our investment," said Calvin Neider, co-managing partner of Clearview Capital, in a December press release.
Clearview said its involvement in Hillsdale lasted about nine years. According to Clearview's website, Hillsdale was created when Clearview, in partnership with management, acquired Hillsdale House and Hillstreet Furniture.
On its website, Brookside lists Clearview as a co-investor in transactions sponsored by other private equity groups. The two firms were once investors in American Furniture Mfg., now owned by Compass Diversified Holdings.