ASHEBORO, N.C. - Upholstered furniture and case goods provider Klaussner Home Furnishings has been acquired by Monomoy Capital Partners, a private investment firm. Klaussner is ranked #27 on the FDMC 300 list of top woodworking firms, with sales estimated at $350 million.

Headquartered in Asheboro, North Carolina, Klaussner's portfolio includes domestic and imported upholstered residential furniture, domestic-made motion furniture and imported case goods, produced under the Klaussner Home Furnishings, Comfort Design, Enso Sleep Systems and Klaussner Outdoor brands. Klaussner also produces the nationally known Trisha Yearwood Home Collection and the artist-inspired Carolina Preserves home collection.

“This transaction will provide further operational capabilities and instant capital for major growth which is what we have been positioning the company for over the past six years," said Klaussner President and CEO Bill Wittenberg. "Klaussner is ready for the next chapter.”

Led by Wittenberg, Klaussner’s current management team will remain in place and maintain a minority stake in the business. Wittenberg led a management buyout in 2011 along with Klaussner’s current CFO Dave Bryant.

"There will be positive changes and growth ahead of us that will only benefit our employees and retail partners," Wittenberg added.

The Carolina Preserves collection by Klaussner Home Furnishings

Stuart Love founded the company, then known as Stuart Furniture, in 1963. It was purchased by Hans Klaussner in 1979, and the name changed in 1986. Today, the vertically integrated company has 10 manufacturing plants, one warehouse and a distribution facility in Asheboro, along with overseas partnerships. Showrooms are located in High Point, Las Vegas and Chicago. Klaussner has more than 1,800 employees.

"Now the timing is right, and we are poised and ready for even greater growth as a result of our new partnership with Monomoy,” Wittenberg said. The company will continue to offer a 21-day turnaround on custom upholstery orders.

"We believe Klaussner’s unique U.S. manufacturing capabilities and speed to market are true differentiators for the long-term success of the business," said John Stewart, a partner at Monomoy. “We are proud to partner with the management team at Klaussner to help the business continue to grow and serve its customers." According to the Monomoy website, Klaussner is currently the only home furnishings producer in the 11-year-old investment firm's portfolio.