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HIG Capital Completes Acquisition of Town and Country Holdings |

HIG Capital Completes Acquisition of Town and Country Holdings

BOSTON–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global private equity investment
firm with $24 billion of equity capital under management, is pleased to
announce that one of its affiliates has acquired Town Country
Holdings, Inc. (“TC” or the “Company”), the parent company of Town
Country Living.

Founded in 1954 and headquartered in Lakewood, NJ, TC is the recognized
leader in home textiles specializing in table linens, kitchen textiles,
rugs, and innovative solution-based home products. The company is a
leading supplier of both licensed brands and private label programs to
major retailers across the globe.


“David and Jeffrey Beyda have successfully positioned TC as a true
partner to its customers and licensors. We believe TC’s existing
product and service offerings provide a great foundation for growth,”
said Todd Ofenloch, Managing Director at H.I.G. “We look forward to
working with the Beydas to grow the company.”

“H.I.G. is the right partner for us. They understand our history, our
business today, and the future growth strategy required to take Town and
Country to the next level. The H.I.G. team brings to bear tremendous
resources that will enable us to execute on our growth strategy more
quickly than we could on our own,” said David Beyda, TC’s Chairman and
CEO.

The Town Country investment will serve as a platform investment in the
home textiles and accessories sector, with H.I.G. strongly expecting to
rapidly pursue add-on acquisitions in the space.

About Town Country Holdings, Inc.

Town and Country is a leading supplier of kitchen textiles, table
linens, bath textiles and accessories, performance and decorative rugs
and mats, and other home products to retailers throughout North America.
With a history of long-tenured customer relationships, Town and Country
has built a service track record, robust sourcing platform, and a unique
inventory and supply-chain management system enabling the Company to
become the preferred provider of kitchen and table linen products to the
some of the world’s largest retailers.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets
investment firm with $24 billion of equity capital under management.*
Based in Miami, and with offices in New York, Boston, Chicago, Dallas,
Los Angeles, San Francisco, and Atlanta in the U.S., as well as
international affiliate offices in London, Hamburg, Madrid, Milan,
Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in
providing both debt and equity capital to small and mid-sized companies,
utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations
and corporate carve-outs of both profitable as well as underperforming
manufacturing and service businesses.

2. H.I.G.’s debt funds invest in senior, unitranche and junior debt
financing to companies across the size spectrum, both on a primary
(direct origination) basis, as well as in the secondary markets. H.I.G.
is also a leading CLO manager, through its WhiteHorse family of
vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

3. H.I.G.’s real estate funds invest in value-added properties, which
can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than
300 companies worldwide. The firm’s current portfolio includes more than
100 companies with combined sales in excess of $30 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and
affiliates.

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