Affiliate of Sun Capital Partners, Inc. Acquires L. Powell Company

Furniture World Magazine

Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, announced that one of its affiliates has acquired the L. Powell Company, one of the largest U.S. designers, marketers, and importers of home accent furniture. Headquartered in Culver City, California, Powell’s products include jewelry armoires, youth furniture, home entertainment products, casual dining, and a variety of home accent collections including its licensed Michael Payne Collections. Powell is widely recognized for its innovative, original designs and quality construction and has won two Pinnacle Design Awards from the American Association of Furniture Designers for its youth bedroom collections. Terms of the acquisition were not disclosed. Bill Benton, President and CEO, L. Powell Company, said, “This transaction is a great opportunity for our Company as well as its employees, suppliers, and valued customers. With the financial sponsorship of Sun Capital Partners and its affiliates, we will be able to continue to grow our organization at an aggressive pace while enhancing our value proposition and reputation for superlative customer service. I would like to personally thank Rick Powell and his father, Larry, for their insight and diligence in building this wonderful company and for allowing the current management team the opportunity to take it to the next level.” Jason H. Neimark, Managing Director, Sun Capital Partners, Inc., added, “Under the leadership of Bill Benton, Powell has made impressive efforts to augment and improve its product diversification, speed to market, sales and marketing programs, and customer service. We are looking forward to working with Bill and the management team to help support the Company’s future growth.” About Sun Capital Partners, Inc.: Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 140 companies worldwide with combined sales in excess of $33.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, and affiliates with offices in London, Tokyo, and Shenzhen, China.