Revolution Capital Group, the private equity owners of The Tampa Tribune, added another company to its portfolio by acquiring Tvilum ApS, a subsidiary of the massive building products company Masco Corp. Tvilum is one of the world’s largest makers of ready-to-assemble products, including office furniture.
Financial terms of the deal were not disclosed.
“This is a truly global business that fits well with Revolution’s strategy to expand our portfolio into Europe,” said Robert Loring, founder and managing partner of Revolution Capital Group. “It affirms our commitment to acquire outstanding businesses and drive growth in international markets.”
Founded in 1965, Tvilum employs about 1,000 people and produces 8 million pieces of furniture annually from factories in Denmark. The company sells the furniture to dealers, including large chains, independent stores and online businesses in Africa, the Middle East, America, Asia and Europe.
Based in Los Angeles but with executives in Tampa and other cities, Revolution Capital Group has acquired a string of companies, including the Wisconsin-based steel fabricator Maysteel, the Pennsylvania-based textile maker Lawrence Schiff Silk Mills, the California-based financial services software firm CAP XG, and the California-based medical apparel maker Dove Professional Apparel.
Revolution Capital Group has been especially active in the wider Tampa Bay region. It acquired The Tampa Tribune in October 2012, and followed up the deal by launching The St. Petersburg Tribune in January 2013 and acquiring the Clearwater Gazette in April 2013.