LOUISVILLE, Ky., Aug. 22, 2016 /PRNewswire/ -- Weller Equity Partners (Weller), a Louisville, KY-based private equity firm, today announced that it has acquired KFI Seating (KFI), a Louisville, KY-based leading supplier of business and institutional furniture products. The acquisition closed on July 29, 2016.
"We have been looking for an experienced partner to help us replace a retiring co-owner and key executive, while keeping our sights fixed on the continued growth and development of our business," said Chris Smith, president of KFI.
"We feel very comfortable with our new partnership with the Weller team, especially considering we are both based in Kentucky," added KFI Chief Operating Officer Scott Williamson.
According to Ken Berryman, managing partner of Weller, "The KFI transaction is a classic fit for Weller as we look to partner with existing management teams to provide liquidity for shareholders, capital for growth, and organizational development to help businesses achieve their full potential."
KFI was represented by Charter Capital Partners, with Andrew Williams, director, leading the transaction advisory team.
"A key component of the transaction's success was making sure everyone's interests were aligned," commented Williams. "The transaction was designed so that each co-owner of KFI was able to achieve their financial and personal goals, while providing the company with a strategic partner to propel future growth. It was a win-win for all parties."
Additional advisors to Weller included Frost Brown Todd (legal) and BKD (financial).
About Weller Equity
Weller Equity Partners is a private equity firm based in Louisville, KY, that invests in lower middle-market companies throughout the Mid-South region of the U.S. Weller focuses on companies that have talented and committed management teams and significant growth opportunities. Weller's mission is to address the capital and liquidity objectives of smaller private companies by providing flexible funding structures and private equity expertise to its owners. For more information, visit wellerequity.com.
About KFI Seating
Founded in 1978, KFI Seating manufactures and distributes a wide range of moderately priced seating and table products for national educational, hospitality, commercial and government end markets. By listening to customer needs and adapting to changing market conditions, KFI has transformed itself into a furniture company with products to fit almost any seating solution. For more information, visit kfiseating.com.
About Charter Capital Partners
Established in 1989, Charter Capital Partners is one of the Midwest's premier investment banking firms to the furniture industry, with offices in Michigan and Indiana. The firm's solutions span the full continuum of capital, including buy-side and sell-side advisory, business valuation, exit planning, and capital raise for start-ups, acquisition and growth capital. To learn more, visit chartercapitalpartners.com.
SOURCE Weller Equity Partners