Ironwood Capital has made a subordinated debt and minority equity investment in Behold Home, a motion and stationary upholstered furniture manufacturer based in Smithville, Mississippi.
The investment is in support of Behold’s purchase of Washington Furniture of Pontotoc, Mississippi, a leading manufacturer of stationary upholstered furniture. The transaction was sponsored by Pittco Capital Partners of Memphis, Tennessee. Other investors include Dobbs Management Services, Jackson Capital and company management.
“Our investment in support of Behold’s acquisition of Washington enables the merger of two industry leaders,” says Ironwood Capital President and Chief Investment Officer Carolyn Galiette. “Combining Behold and Washington will allow each entity to benefit from increased capacity and to share manufacturing and merchandising expertise.”
“We are excited to partner with Pittco, Dobbs, Jackson and company management to complete this transaction,” says Ironwood Capital Managing Director Jim Barra. “Washington and Behold were founded by two industry visionaries, Gerald Washington and Lyle Harris, who have imparted complementary cultures that will serve as the foundation for future growth and innovation.”
