LOS ANGELES - Sunday, December 22nd 2013 [ME NewsWire]
(BUSINESS WIRE)-- Revolution Capital Group announced today that it has completed an acquisition of Tvilum ApS, a subsidiary of Masco Corporation (NYSE: MAS). Masco is one of the world's leading manufacturers of home improvement and building products, with an annual revenue exceeding $7 billion in 2012. Tvilum is one of the world’s largest manufacturers of ready to assemble (RTA) products. This acquisition marks Revolution’s third acquisition of the year, and the firm’s seventh since inception.
“This is a truly global business that fits well with Revolution’s strategy to expand our portfolio into Europe. It affirms our commitment to acquire outstanding businesses and drive growth in international markets,” said Robert Loring, Founder and Managing Partner of Revolution Capital Group.
Tvilum has four state-of-the-art factories which produce 8 million items of furniture annually. Tvilum’s products are manufactured in Denmark and sold to retailers around the world. The company employs approximately 1,000 people, and was founded in 1965. The company sells its products through dealers, including large chains, independent stores, and online businesses in Africa and the Middle East, America, Asia and Oceania, and Europe.
“Tvilum is an exciting opportunity for Revolution Capital Group, and this acquisition caps off an excellent year for our firm. Heading into the new year, we look forward to helping existing management execute a growth strategy that creates long term value,” said Cyrus Nikou, Founding Partner of Revolution Capital Group.
In February, Masco Corporation announced its intent to sell Tvilum following a periodic review of its business portfolio, which determined that this business was not core to its long-term growth strategy.
About Revolution Capital Group
Revolution Capital Group was formed by a group of private equity, M&A and operational executives. The partners have worked on over $15 billion in transactions with corporations such as AT&T, BASF, Bayer, General Electric, Hays PLC, IBM, Lucent, Media General, Motorola, Universal Group and Williams Communications. Additional information is available on the company’s website www.revolutionpe.com.
About Masco Corporation
Headquartered in Taylor, Michigan, Masco Corporation is one of the world's leading manufacturers of home improvement and buildings products. Masco’s brands include Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; KraftMaid® and Merillat® cabinets; and Milgard® windows and doors, among others. Masco is also a leading provider of services that include the installation of insulation and other building products through Masco Contractor Services’ group of companies. Visit www.masco.com for more information on the Masco family of brands and its Foundation.
About Tvilum
Tvilum designs, develops, manufactures, and supplies ready to assemble furniture. The company offers furniture in the categories of living, working, sleeping, kids/teens, and kitchen/bath. It provides bookcases, beds, chairs, chests, china cabinets, desks, dining tables, nightstands, shoe cabinets, bathroom and kitchen cabinets, sideboards, small tables, wall systems, and wardrobes; and combination, lighting, media, and storage products. More detail is available at www.tvilum.com.
Contacts
Revolution Capital Group
Gary Alcock
Managing Director
310.229.0806
galcock@revolutionpe.com
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