Boston Trade Interior Solutions Expands into Adjacent Hospitality Design Category with Acquisition of Design Environments Corporation
Deal Enhances Position as Single-Source Interior Design and Architecture Enterprise, Expands National Footprint
BLOOMINGDALE, Ill. and MARIETTA, Ga., July 26, 2021 /PRNewswire/ -- Boston Trade Interior Solutions, one of the nation's leading providers of interior design, procurement, and project management services for hospitality providers, and its partner Blackford Capital, has successfully acquired the assets of Design Environments Corporation, a top interior design and interior architecture firm serving single and multi-family developments, collegiate housing and continuing care retirement communities (CCRC). Terms of the deal were not disclosed.
The transaction aligns two industry leaders into a single-source, national entity providing interior design, interior architecture, procurement, project management and installation services to a wider array of residential, overnight, and short-term rental owners and developers.
Marietta, Ga.-based Design Environments works across the country and is the premier provider of interior design and interior architecture services in the southeast region of the US. DEI will join Boston Trade, which has offices in Boston, Chicago, and San Francisco, as a division of Hospitality Consolidation Company (HCC), a Blackford Capital portfolio holding company. DEI's unique approach to providing a fully company-owned and managed turnkey solution to its clients has driven its evolution into the go to interior design provider for large regional and national developers.
"We are thrilled to add such a prestigious and well-respected company to our portfolio of services," said Greg Kadens, Chief Executive Officer at Boston Trade. "The synergies between our two organizations offer a unique advantage as a design-first procurement business that differentiates from the standard single thread procurement providers and with our international product sourcing capabilities, we believe we can add significant value to DEI's business model.
"With the addition of DEI to our family of interior design brands, we now have a professional staff of over 50 designers with expertise across a wide array of markets and project types. What makes this so compelling is the depth, experience and solutions we are now able to offer our clients," Kadens said.
There are no staffing changes expected for the 48 employees of Design Environments. Donna DeLuca, who founded Design Environments in 1991, will stay on as strategic consultant while Kristen Holloway will remain with the company as its president. The entire management team will also remain in place.
"The entire Design Environments team is excited about the opportunities that this combination presents," DeLuca said. "We strongly believe that Boston Trade will make a great partner in our continued growth and expansion."
Blackford Capital is an 11-year-old Midwest-based private equity investment firm specializing in helping founder-and family-owned companies supercharge performance by improving operations and implementing aggressive growth plans.
"With this transaction, we have advanced our vision for Hospitality Consolidation Company, so it is optimally poised to serve the rapidly changing hospitality and residential development industry while providing a platform for future acquisitions and expanded market share," said Martin Stein, founder and managing director of Blackford Capital and Chairman of Boston Trade Interior Solutions. "We are confident that the combination will create a dynamic company with an experienced and accomplished leadership team that will meet the future needs of its customers in new and exciting ways. Our vision is to become one of the most diversified FF&E providers across multiple industries with shared design, sourcing, and digital capabilities."
Dickinson Wright PLLC, Honigman LLP, and King & Spaulding LLP served as legal advisors; and Midland State Bank and Assurance Mezzanine Fund provided financing. Plante Moran provided deal structure and accounting services. Benchmark International, Moore Ingram Johnson & Steele, LLP, and HLB Gross Collins, P.C. represented the seller.
About Boston Trade International
Boston Trade has provided interior design and furniture, fixtures and equipment (FF&E) procurement solutions customized to the hospitality industry across the US since 1979. Boston Trade international merged with Vertically Integrated Projects on March 17, 2021. Headquartered in Bloomingdale, IL and with design and project management centers in Bloomingdale, Hudson, MA and Freemont, CA, Boston Trade Interior Solutions is a nationally recognized, industry leading, turnkey provider of professional design, procurement, project management and logistics services for the renovation and new construction of hospitality interiors. For more information, visit https://www.bostontrade.com/
About Design Environments
Design Environments, based in Marietta, Ga., is a nationally renowned interior design firm specializing in the interior architecture and merchandising of model homes, clubhouses, and amenity/sales facilities throughout the United States. Our highly skilled staff offers professional consultation in architectural detailing, space planning, lighting design and floorplan reviews through state-of-the-art CAD systems. The company also offers extensive warehousing and purchasing systems to ensure timely delivery and smooth installations. For more information visit http://www.designenvironments.com/
About Hospitality Consolidated Corp
Hospitality Consolidated Corp. (HCC) is the platform created by Blackford Capital to execute its growth strategy of acquiring leading interior design companies across multiple industries, including the hotel and hospitality industry, single and multi-family homes and other related industries while delivering efficiencies through economies of scale and through consolidated sourcing and fulfillment.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford Capital makes majority control investments in founder and family-owned, lower middle-market manufacturing, industrial and distribution companies. Currently, Blackford Capital has eleven portfolio companies. Blackford and their team members have received several recognitions over the past several years, including M&A Adviser Private Equity Firm of the year, Corp. Magazine Small Company of the Year (Michigan), GR Chamber of Commerce Small Business of the Year (West Michigan), numerous recognitions on the Inc. 5000 fastest growing private companies list and M&A Adviser Private Equity Professional of the Year (Martin Stein). For more information, visit https://www.blackfordcapital.com/
Contact:
Kourtney Rogus
Lambert & Co.
(810) 334-5282
[email protected]
SOURCE Boston Trade Interior Solutions; Blackford Capital
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