PONTOTOC, Miss. – Motion furniture manufacturing giant Southern Motion has been acquired by Gainline Capital Partners LP. Terms of the deal were not disclosed.
Southern Motion's current senior management team, led by president and CEO Roger Bland, will remain in place and maintain a significant stake in the business.
"This deal allows our shareholders, many who have been investors for more than 20 years, to receive a return on their investment while providing a great resource for the existing management team,” said Bland. “Gainline demonstrated consistently throughout the process why they are an excellent partner
"We are very excited to partner with Roger and the Southern Motion management team to help them better execute their vision,” said Rick Sullivan, Gainline managing director.
Business at Southern Motion has been booming as of late, with a recent investment of $20 million in a new factory in Baldwyn, Mississippi.
Southern Motion, founded in 1996, currently employs over 1,500 people in five Mississippi-based facilities spanning over 1.5 million square feet. The Company is a domestic producer of upholstered motion furniture incorporating original styling, quick delivery and high quality standards while providing one of the most comprehensive special order programs in the industry. Motion furniture contains a mechanism that enables the product to change seating positions.
Gainline Capital Partners LP is a private equity firm that invests in United States based middle market companies. The firm makes both controlling and minority investments in acquisitions of private companies, corporate divestitures, recapitalizations, management buyouts and growth equity. Gainline offers a growth-oriented model to help businesses develop and execute their vision, maneuver through any adversity that might arise and maximize value over the long term.