The founding families of upholstered seating specialist, Stylus, Made to Order Sofas announced that they have completed the repurchase of Stylus’ assets from Terravest Industries. The repurchase comes 5 years after Terravest purchased an 80% equity position in Stylus.
President Rick Ripoli offers, “We are extremely excited by the prospect of returning to our original structure. We believe the agility provided by a closely held, private company will best allow Stylus to take advantage of the opportunities available.” He adds, “While Stylus’ involvement in Terravest has been mutually beneficial we feel a less structured atmosphere will allow Stylus’ management team to create a more collaborative environment. Further, the family values that have guided our business will once again return to the forefront.”
The new parent company, Stylus Sofas Inc, is a wholly owned corporation by Stylus’s current senior executives, Rick Ripoli, Dennis Ripoli & Derek Barichello. This will allow for a nearly seamless exchange that will not interrupt Stylus’ business.
About Stylus, Made to Order Sofas Stylus, Made to Order Sofas is a leader in fashion forward, custom order fabric upholstery and a distributor of imported leather upholstery. Established in 1959, Stylus has grown to be one of Canada’s largest upholstery resources selling through a network of independent retailers in Canada and the United States. Stylus operates out of a 90,000 sq ft manufacturing facility and 60,000 sq ft distribution center in Burnaby, BC Canada.