The Transaction

The Principals of Founders Investment Banking served as exclusive financial adviser to Plantation Patterns in its sale to NBGHome, a portfolio company of Kohlberg & Company. Plantation Patterns and NBGHome closed the transaction on June 17, 2016.

The Company

Plantation Patterns is one of North America’s leading manufacturers of cushions, pillows, umbrellas, outdoor decor and accessories.  Since the current shareholders assumed control, Plantation Patterns has provided products utilizing their hybrid supply chain to source materials overseas as well as manufacture products in the U.S.  The Company has grown substantially, expanded its customer base and coverage, and developed meaningful brand recognition in the industry.

NBG Home operates state-of-the-art manufacturing facilities in Germany and the U.S. and maintains strong relationships with leading Asian manufacturers across its home décor offerings. Leading brands include Nielsen, Bainbridge, Nurre Caxton and Burnes of Boston for its custom and ready-made picture framing as well as Jimco, J.Hunt, Patton and Thro for its lighting, accent furniture, wall décor and soft goods products. Founded in 1979, NBGHome now employs almost over 1,000 employees. The Company is owned by Kohlberg & Company, a New York based private equity firm.

The Objective

EJ Marino approached Founders Investment Banking in 2011 with an idea to acquire the Plantation Patterns business from the former Meadowcraft. Advised and financed by Founders, EJ partnered with the management team to acquire the Company. After successfully growing the business and developing strong customer relationships, EJ decided to transition and again engaged Founders to advise in a sale process.

The Solution

Founders Investment Banking performed a thorough assessment of the company and prepared marketing materials and a detailed financial model to convey the necessary information for a smooth transaction process. Founders subsequently acted as an intermediary between Plantation Patterns and NBGHome as confidential information was exchanged during the diligence process. In addition, Founders negotiated the terms of the purchase agreement, ultimately leading to the close of the transaction on June 17, 2016, successfully achieving:

  • Full liquidity for Plantation Patterns shareholders
  • A premium valuation for the Company

In order to provide securities-related services discussed herein, certain principals of Founders are licensed with M&A Securities Group, Inc. or Founders M&A Advisory, LLC, both members FINRA & SiPC. M&A Securities Group and Founders are unaffiliated entities. Founders M&A Advisory is a wholly owned subsidiary of Founders.

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