LOS ANGELES, CA - Revolution Capital Group has acquired Masco subsidiary Tvilum ApS. In the December 20 announcement, the investment group said Tvilum is among the world’s largest manufacturers of ready to assemble (RTA) furniture.
Terms of the sale were not disclosed.
Masco announced in February that it would exit Tvilum, which it acquired in 2000. Based in Denmark and founded in 1965, Tvilum employs approximately 1,000 people and has four factories, producing 8 million items of furniture annually, Revolution said. Tvilum's products, which include residential and office furniture, and cabinetry, are sold through dealers, including large chains, independent stores, and online businesses in Africa and the Middle East, America, Asia and Oceania, and Europe.
The 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 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,” added Cyrus Nikou, founding partner.
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