IMAP Canada advises ready-to-assemble furniture designer, manufacturer and distributor Bush Industries on sale to Novacap
Bush Industries is a leading designer, manufacturer and distributor of case goods and ready-to-assemble furniture for commercial and residential offices and the home.
IMAP is pleased to announce that private equity firm Novacap has acquired Bush Industries. Terms of the transaction were not disclosed.
Bush Industries is a leading designer, manufacturer and distributor of case goods and ready-to-assemble furniture for commercial and residential offices and the home. With facilities in New York, Pennsylvania, California and China, Bush provides easy, fast and affordable furniture solutions to consumers through e-commerce, office superstore, and contract commercial markets.
Novacap is a Canadian private equity firm with $3.6 billion of assets under management. Novacap intends to combine Bush with one of its portfolio companies, Bestar, a Canadian based designer, manufacturer, distributor and online seller of furniture for the commercial office and home. The companies will have combined sales of approximately $260 million.
The IMAP Canada team in Vancouver, led by Michael Janicki and Doug Irwin, acted as sole financial advisor to Bush Industries.