Weller Equity Partners, a Louisville-based private equity firm, has acquired the Louisville-based furniture supplier KFI Seating. The acquisition closed July 29. Weller Equity invests in lower middle-market companies ($5 million to $50 million in revenue) in the Mid-South region of the U.S. The firm provides funding structures and private equity expertise to a company’s owners, particularly in the manufacturing, health care, information technology and food and beverage industries.
“We have been looking for an experienced partner to help us replace a retiring co-owner and key executive, while keeping our sights fixed on the continued growth and development of our business,” Chris Smith, the president of KFI, said in a press release. Scott Williamson, the chief operating officer at KFI, said that he is comfortable with the partnership with Weller, because both companies are based in Louisville.
“The KFI transaction is a classic fit for Weller as we look to partner with existing management teams to provide liquidity for shareholders, capital for growth and organizational development to help businesses achieve their full potential,” Ken Berryman, the managing partner at Weller Equity, said in a press release.
The financial details of the deal were not disclosed. KFI was represented by Charter Capital Partners, with director Andrew Williams leading the advisory team. more