Emarico, Inc. Completes Asset Purchase of Plantation Patterns Furniture Company
Founders Investment Banking, LLC (“Founders”) is pleased to announce that it has advised Emarico, Inc. in a successful asset purchase of Plantation Patterns Furniture Company, LLC. EJ Marino, CEO of Emarico, Inc., will be taking over as CEO of the newly formed company, Plantation Patterns, LLC (“Plantation Patterns”), as they plan to build on the strong reputation for providing a creative, high-quality line of cushions and umbrellas to mass market retailers across the U.S. Over the past twenty years, Plantation Patterns has expanded to become a premier supplier of cushions and umbrellas in the industry. The new enterprise will benefit from both growth capital and new leadership which promise strong growth potential for Plantation Patterns going forward.
Founders acted as the exclusive financial advisor to Emarico, Inc. in the transaction. Founders’ Managing Partner, Duane Donner, stated “As CEO, EJ Marino will bring renewed focus, strategy, and leadership to an already solid platform of a high-quality, profitable, and growing business. Everything lined up for this new venture to come together with a common vision for the future of Plantation Patterns, and they can now focus on what they are best at: designing, selling, and producing high quality, creative products.”
Mr. Marino stated “We are excited to bring a new beginning to the great work that Plantation Patterns has done and to expand the customer base and product offerings while continuing to provide the best product, service, and quality in the marketplace. I couldn’t be happier with the opportunity for our new venture, and we are eager to get to work. Duane and the Founders team were a pleasure to work with and served as a very valuable partner. I was impressed with their ability to put this deal together despite serious time constraints and funding requirements. We could not have been more pleased with the way they quarterbacked this process, and we look forward to working with them in the future.”
Scott Crumrine, Vice President of Plantation Patterns, commented “We are very excited to see the company take this next great step in its evolution. We are energized to be teaming up with EJ, and we embrace his strategic vision. This is a great development for all of the staff at Plantation Patterns and for the future of our business.”
Plantation Patterns provides innovative designs in cushions and umbrellas to mass market retailers. An ISO 9001 company, they are committed to utilizing the best materials and manufacturing operations to ensure the delivery of the highest quality products. Since 1988, they have been providing creative high quality outdoor products to Target, Home Depot, Lowes, and other fine retailers. Headquartered in Selma, Alabama, the company operates a 450,000 square foot cut-and-sew facility and a 50,000 square foot logistics operation.
Founders Investment Banking, LLC is an independent, middle-market capital advisory firm, headquartered in Birmingham, Alabama, that is dedicated to providing a comprehensive range of customized solutions for its clients, including merger and acquisition and corporate and strategic finance advisory services. In order to provide securities-related services, certain principals of Founders are licensed with Burch & Company, Inc., a registered broker-dealer. Burch and Founders are unaffiliated entities. For more information on our firm, please visit www.FoundersIB.com.