Asheboro, North Carolina — Monomoy capital partners has bought North Carolina furniture and foaming company Klaussner Home Furnishings for an unspecified amount.
The company employs 1800 and owns foamer Prestige Fabricators, a subsidiary, which is also based in Asheboro, North Carolina.
Klaussner ceo Bill Wittenberg said: "this transaction will provide instant capital for major growth, which is what we have been positioning the company for over the past six years. We are ready for the next chapter.”
John Stewart a partner at Monomoy Capital said "we believe Klaussner’s unique US manufacturing capabilities and speed to market are true differentiators for the long-term success of the business."
The firm's current management team will retain a minority stake in the business. Wittenberg joined the firm in 2010 and led a management buyout in 2011 from previous owner Hans Klaussner. Founder Stuart Love set the firm up in 1963.
