Recent M&A Transactions
Happy New Year! The Stump team is looking forward to 2024 and what we believe will be an improving M&A environment. We also reflect back to 2023, which matched our record for number of completed transactions, despite a reported 30% drop in total M&A deals across the broader U.S. market. Our fourth quarter was huge, with five significant deals closing around year end (some pushed to early January to delay taxes - a frequently used legal tactic).
Z Gallerie acquired by Karat Home
Z Gallerie‘s e-commerce assets were acquired by Karat Home in a Chapter 11 bankruptcy process. Karat intends to accelerate their US e-commerce business with Z Gallerie’s brand, DTC channel, and product mix.
Stylex acquired by Flokk
Stylex was acquired by Flokk in a blockbuster cross-ocean transaction. Flokk is one of Europe’s largest manufacturers of office seating and furniture, and the addition of Stylex brings a US brand and manufacturer of luxury soft seating into the wider Flokk portfolio.
Grand Basket acquired by Twin Star
Leathercraft acquired by OHD
ROOM acquired by OFS
Congratulations to our clients, and best wishes to all these buyers in the new year ahead.
We expect M&A to accelerate in 2024 as we maintain a healthy backlog of sell-side assignments, including companies in the following sectors:
- Domestic upholstery manufacturing
- Hospitality furniture
- Flooring distribution
- Lighting and decor
- Casual/outdoor furniture
Call us, let’s start a conversation.
For those going to Las Vegas for the Winter Market, we look forward to seeing you there.