News | The Stump Corporationhttp://www.stumpnet.com/blog/2020-11-18T10:08:12-05:00The latest news from Stump featuring market previews and trends.VAUGHAN BENZ IS ACQUIRED BY MANDY LI COLLECTION2020-11-18T10:08:12-05:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/vaughan-benz-is-acquired-by-mandy-li-collection/<p>November 18, 2020</p>
<p><span>Stump & Company (“Stump”) is pleased to announce that it served as the exclusive financial advisor to Vaughan Benz® in its recently completed acquisition by Mandy Li Collection®, which closed on Friday November 13th. Longtime friends of both high-end hospitality players, the Stump team was thrilled to bring these two parties together.</span><br/><span></span></p>
<p><span>Vaughan Benz® founders David Benz and Scott Vaughan expressed a driving desire during the transaction to preserve the company's commitment to quality, integrity and customer service.</span><br/><span></span></p>
<p><span>“Mandy will take the company that Scott and I founded to a new level of success with the same commitment to quality, outstanding execution, and integrity that we have so passionately strived for since 1986. We look forward to continuing to serve our customers and working with Mandy and her team to create amazing furniture for the world's finest hotels in the years to come." – David Benz</span><br/><span></span></p>
<p><span>The Vaughan Benz® brand will continue to thrive as a part of the Mandy Li Collection® companies; and will continue to serve its devoted client base by manufacturing the high-quality furniture they are renowned for in the hospitality industry. </span><br/><br/><span>Mandy Li Collection® and Vaughan Benz® share the same values and an unwavering commitment to provide exceptional manufacturing, outstanding customer service, and competitive pricing. Mandy, Scott, and David bring a combined 100+ years of experience in the furniture industry. This joining of their forces makes both brands stronger by combining exceptional supply chains, broadening mutual capabilities, and increasing market share. With manufacturing facilities in China, Vietnam, Indonesia, Mexico, and the United States, they can provide their customers with options to ensure their projects' complete success. The two companies are merging their extensive portfolios, client relationships, and industry knowledge. </span><br/><br/><span>Key Vaughan Benz personnel are also joining Mandy's team to provide their expertise and ensure service continuity. By holding themselves to the high standards and passion that made them the brands they are today, together they will continue to strengthen their hospitality industry footprint.</span></p>
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<p><span><strong>ABOUT MANDY LI COLLECTION<br/></strong></span>Since 1997 the Company has continually offered natural stone, quartz products, case goods, seating, interior doors, and millwork, manufactured internationally and domestically. Their QuickShip™ program provides selected products in stock and ready to ship from their California warehouse. They have provided their extensive customer base with custom and turnkey solutions, from concept to completion, for all interior design, renovation, and furnishing needs. Mandy Li's passion is prevalent in everything her company encompasses, from her talented team to its high-quality manufacturing capabilities to its hospitality industry reputation. Mandy is proud of her company's good standing relationships with some of the top design firms and hospitality giants. Over the years, they have provided their services to an expansive selection of luxury properties worldwide. These include The Cosmopolitan of Las Vegas, Thompson (Dallas, TX), Wynn Macau (China), Westin Nanea (Maui, HI), The Quin Hotel (NYC, NY), Proper Hotel (Santa Monica, CA), Sheraton Vistana Resort (Orlando, FL), HGVC Elara Tower (Las Vegas, NV), Crane Restaurant (Washington D.C.) and many more impressive projects.</p>
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<p><strong>ABOUT VAUGHAN BENZ</strong><br/> Since 1986, top designers, purchasing firms, and hotel ownership groups have come to Vaughan Benz® for the finest quality bespoke furniture. Vaughan Benz® has furnished some of the world's leading 5-star hotel guestrooms, public areas, and suites, including luxury guestroom furniture for prestigious properties such as Bellagio (Las Vegas, 2500 rooms), Four Seasons Hotels in New York, Tokyo, Los Angeles, Beijing, Maui, and elsewhere, Mandarin Oriental Boston, The Beverly Hills Hotel, Rosewood Miramar Beach (Santa Barbara), Mondrian Los Angeles, Intercontinental Downtown Los Angeles (910 rooms), New York Midtown Hilton (1800 rooms), Conrad New York Midtown, and many others.</p>
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<p><strong>ABOUT STUMP & COMPANY</strong><br/> Based in Charlotte, NC Stump & Company is the leading boutique investment bank providing mergers and acquisitions advisory services to Companies in the furniture and home furnishings industry. Stump & Company has served as exclusive financial advisor on over 400 transactions in this sector. Founded in 1972, the firm remains a family business currently led by its second and third generations. For more information, please visit<span> </span><a href="https://www.stumpnet.com/" target="_blank">www.stumpnet.com</a>.</p>
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<h2 style="color: #ffffff;">Coming Up Next</h2>
<p>The Stump team is excited to be preparing new opportunities for launch in Q1 that will touch on a variety of industry verticals:</p>
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<li>Multiple domestic upholstery manufacturers</li>
<li>A multi-sector lifestyle brand with global reach and sourcing, with a strong foothold in the home office category</li>
<li>Fast-growing E-Commerce opportunities</li>
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<p>Sound interesting? Give us a call. We stand ready to explore potential acquisitions that fit your business and vision.</p>
</div>URBAN HARDWOODS, LLC IS ACQUIRED BY URBAN LUMBER COMPANY INC.2020-11-06T10:06:47-05:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/urban-hardwoods-llc-is-acquired-by-urban-lumber-company-inc/<p><span style="font-weight: 400;">November 6, 2020 </span></p>
<p>Stump & Company (“Stump”) is pleased to announce that it served as the exclusive financial advisor to Urban Hardwoods, LLC (“Urban Hardwoods” or the “Company”) in its recently completed acquisition by Urban Lumber Company Inc. (“Urban Lumber”). </p>
<p>Founded in 2001, Urban Hardwoods specializes in the salvage, milling, curing, design and fabrication of beautiful live edge tables. Urban Hardwoods furniture is handcrafted in Seattle, Washington and ninety percent of materials are sourced within a 25-mile radius of the center of the city. The Company has cultivated an impressive client list and robust marketing presence in the Northwest.</p>
<p>“I am extremely proud of the Company we have stewarded for the past 8 years, which has created beautiful products with a story to tell and employed fine craftsman right here in Seattle,” said Dave Barber, former owner of Urban Hardwoods and whose family is the founder of The Bartell Drug Company, a prominent Seattle based Pharmacy Chain. “I’m confident that we have found the right buyer to continue to build on the great work at Urban Hardwoods."</p>
<p>“Urban Hardwoods’ market position and stellar reputation created a highly attractive opportunity for us to expand the capacity and reach of Urban Lumber,” added Seth San Filippo owner and operator of Urban Lumber Company Inc. “It has been a great pleasure working with Dave and the Urban Hardwoods management team, and we expect nothing but continued success for the Company moving forward as we take two regional live edge companies and integrate them into one stronger company.”</p>
<p>We are excited to see the beautiful craftsmanship that continues to come from these two companies in the Northwest.</p>
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<p><b>ABOUT STUMP & COMPANY</b></p>
<p><span style="font-weight: 400;">Based in Charlotte, NC Stump & Company is the leading boutique investment bank providing mergers and acquisitions advisory services to Companies in the furniture and home furnishings industry. Stump & Company has served as exclusive financial advisor on over 400 transactions, 20 in the last 5 years. Founded in 1972, the firm remains a family business currently led by its second and third generations. For more information, please visit<span> </span></span><a href="https://www.stumpnet.com/"><span style="font-weight: 400;">www.stumpnet.com</span></a><span style="font-weight: 400;">.</span></p>
<p><strong>ABOUT URBAN HARDWOODS</strong><span></span><br/> Founded in 2001 and acquired by the Bartell-Barber family office in 2012, Urban Hardwoods crafts beautiful one of a kind hand crafted live edge tables in Seattle, Washington. The Company sells both in the residential, hospitality, and commercial sectors and is highly regarded for their exemplary craftsmanship and quality. For more information, please visit<span> </span><a href="https://www.urbanhardwoods.com/" target="_blank">www.urbanhardwoods.com</a>.</p>
<p><span style="font-weight: 400;"><strong>ABOUT URBAN LUMBER COMPANY</strong><span></span></span><br/> Founded in 2006 and based on Springfield, Oregon, Urban Lumber specializes in creating large natural edge slabs and fine handcrafted furnishings from sustainably salvaged city trees. The Furniture showcases monumental scale, live edges, and unique detailed grains. With each piece the Company emphasizes the inherent natural beauty of Pacific Northwest Lumber. The Company is built on the mission of promoting environmental responsibility and greater awareness of urban forests through hardwood furnishings. The Company takes pride in environmental sustainability and do their part on all levels of production, from salvaging city street trees to selecting only the greenest materials for products. For more information, please visit<span> </span><a href="https://urbanlumber.co/" target="_blank">www.urbanlumber.co</a>.</p>Pre-High Point M&A Update2019-10-01T15:49:43-04:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/pre-high-point-ma-update/<p style="font-weight: 400;">This has been a busy season in the M&A market. Activity remains strong across residential, hospitality, and contract furniture. We<span> </span>continue to observe<span> </span>a compelling balance of buyers and sellers in each of these furniture industry sectors. There are strong strategic buyers<span> </span>interested in growth and diversification of products and manufacturing capabilities. Private equity companies<span> </span>are investing<span> </span>in the space,<span> </span>indicating<span> </span>that there is<span> </span>additional investment to follow.<span> </span>Finally, Asian money continues to seek US investment. </p>
<p style="font-weight: 400;">This has also been a busy season for Stump. We have closed 2 transactions over the past 2 months,<span> </span>and have two more nearing completion in the weeks ahead. This is an exciting time in the market cycle to be entering the High Point Furniture Market.</p>
<p style="font-weight: 400;"><img alt="Stump Tombstone" height="444" src="https://static.stumpnet.com/public/media/uploads/blog/stump_tombstonev1.jpg" width="649"/></p>
<p style="font-weight: 400;"><strong>Stump Team Update</strong>:<br/>Stump is pleased to announce that Stuart Stump Mullens has been promoted to Partner and will continue to bring her insights and passion for the industry to the M&A team.</p>
<p style="font-weight: 400;"><strong>Key Take Aways:</strong><br/>• The M&A market is open and transactions are happening across our Industry. <br/>• Prospective Buyers are looking for growth, profitability, and strong management teams. If you need help getting there, we are happy to help.<br/>• Tariffs and E-Commerce are changing the rules. There is growth in our market, but it is only for those that have a compelling value proposition in this fast paced and open environment.<br/>• Stump & Company is well positioned for the future and growth with a third generation securely in place.<br/>• Now may be the time for you to sell! Give us a call if you would like to discuss valuations or a transaction.</p>Fellowes Brands Acquires Trendway Corporation2019-08-15T08:40:38-04:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/fellowes-brands-acquires-trendway-corporation/<p>The Stump team is proud to have exclusively represented the selling shareholders in the August 13, 2019 acquisition of Trendway Corporation to Fellowes Brands, a global leader in business products since 1917. <strong><a href="https://static.stumpnet.com/public/media/uploads/blog/fellowesbrands_trendway_acquisition.pdf" title="Fellowes Brands Acquires Trendway Corporation">Read Fellowes Brand's announcement here.</a></strong></p>
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<p><strong></strong></p>2017 in Review & 2018 in Preview2018-01-15T09:11:11-05:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/2017-in-review-2018-in-preview/<p>The 2017 M&A climate was robust, at levels not seen since before the 2008 crash. This meant a terrific year in furniture acquisitions and for Stump & Company. Our boutique M&A firm closed 7 transactions across the Residential, Hospitality, & Contract sectors of the industry:</p>
<p>In addition to a record setting bull stock market, generous bank lending, and an upbeat economic environment, the 2017 M&A activity in furniture was the result of a confluence of strategic buyers looking for growth, international players trying to move into US assets, and private equity firms looking to create or add to platform investments.</p>
<p>We are also proud to highlight the work of our affiliate company, The Stump Corporation, who had another outstanding year in the industrial real estate brokerage business, with over 41 transactions (that’s 3.4 deals per month) totaling 4.2 million square feet. Notable furnishings clients include Valdese Weavers, HSM, Century Furniture and Universal Forest Products.</p>
<p>If you need industrial real estate assistance, call Randy and John Stump: they are the best.</p>
<p>As we look ahead to 2018, we see reason for further optimism. The US economic climate remains strong as does the global environment generally. Private Equity firms are well capitalized and have platform companies that need add-on / bolt-on investments to spur growth, while strategic buyers are looking across industry sectors to find growth. This strength in furniture M&A parallels the general M&A trends globally.</p>
<p>We will monitor the influence of the new tax code. Based on what we know to date, we anticipate seeing a rise in consumer confidence, with corporations having more cash on hand to fund acquisitions and make CAPEX investments. Private equity groups remain flush with cash and we expect to see continued inflow of capital into our industry.</p>
<p>We see great cause for optimism in 2018, and look forward to seeing you at the upcoming furniture markets</p>
<p><img alt="Tombstone" height="811" src="https://static.stumpnet.com/public/media/uploads/blog/smp_tombstones_2b.jpg" width="450"/></p>
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<p><img alt="Stump in High Point" height="582" src="https://static.stumpnet.com/public/media/uploads/blog/stuart_and_tim_in_hp2.jpg" width="571"/></p>
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<p></p>NeoCon - June 20152015-06-10T14:08:08-04:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/merger-acquisition-news/<p>Our two days in Chicago were exciting, draining, wet and wild. Following an energetic first day with massive crowds and positive attitudes, 50,000+ people exited the Merchandise Mart Monday afternoon to the Windy City's finest gale forces and sideways torrential rain. No cabs, Ubers, umbrellas....led to a lot of wet and disgruntled people. But later in the evening, the NHL finals showcased a Blackhawks shut-out victory. Many of us were awakened at 11pm to horns and hoots as Chicagoland celebrated its victory.</p>
<p>Contract/Commercial furniture folks are upbeat, as business is strong across all sectors, and most people believe we have another 2-4 years of growth ahead of us. We saw plenty of bright colors on upholstery, a continuation of open space working environments (vs cubes and individual desking), and plenty of new solo seating options configured to accommodate computers and screens and power support. The HAT (height adjustable table) movement continues, with new sit/stand options still emerging.</p>
<p>Everywhere we saw the concept of work/home blending. Clearly public space commercial furnishings look more homey and comfortable, and we expect to see more mergers & acquisitions to achieve and accelerate this blend.</p>
<p>We were reminded that distribution is the critical factor in capturing a sale....and the 8th floor product assortment reinforced that most everyone has the same kind of product. Dealers and their customers are increasingly looking for reliable vendors that can execute at a high level of customer service, product quality and reliable delivery.</p>
<p><strong>Quote of the Market:</strong> <em>"Good listeners generally make more sales than good talkers."</em> B.C. Colwick (I didn’t really hear a good quote this market, so I found this in the Forbes list of quotes). I believe this is a truism for sure.</p>
<p>Our business remains at peak levels as there is a solid balance of buyers and sellers. With the stock market at record highs, capital markets open and active, private equity funds with plenty of liquidity, and the rest of the world a bit shaky, the US is primed for robust M&A activity. Stay tuned for several soon-to-be-announced transactions.</p>
<p>Call us ....we would love to be of assistance.</p>M&A Briefing: Quarter 1, 20152015-03-09T14:05:01-04:00vannoppenhttp://www.stumpnet.com/blog/author/vannoppen/http://www.stumpnet.com/blog/ma-briefing-quarter-1-2015/<p>March is the best time of the year. Spring weather has arrived, the fairways have green grass, the NCAA basketball tournament has begun, and the Masters is right around the corner.</p>
<p>For the furniture industry, spring marks the beginning of a fantastic run of markets: Southeast Asian markets, April High Point, HD-Vegas in May and Neocon-Chicago in June. Huge times for all sectors of the furniture industry to see customers, present new products and to advance their strategic vision.</p>
<p>2015 marks our 25th anniversary of being in business – certainly a celebration and a continuation of Ralph Stump’s formation of the original Stump business in 1974. As noted earlier this year, we now have the 3rd generation (John [JRS III] and Bo [TAS Jr.]) working at our firm, signaling the Stump commitment to our industry for the long-term.</p>
<p>Mergers & Acquisitions are the talk of the industry, and our business is performing at record levels.</p>
<p>Just last week we announced the sale of Highmark Smart, Reliable Seating to OFS Brands. Highmark is a leading manufacturer of ergonomic and task seating based in Huntington Beach, CA. This is a major strategic acquisition for OFS, based in southern Indiana, and a game-changer for this office/contract player.</p>
<p>In January we announced the sale of Dicey Mills to Valdese Weavers. Both companies are prominent suppliers to the upholstery industry, and this transaction showcases how large, strong companies such as Valdese Weavers are seeking growth via acquisition and product line extension.</p>
<p>Several other transactions occurred privately in the First Quarter, 2015, and we were pleased to play quiet advisory roles in those deals. Our valuation and negotiation skills are increasingly being requested as parties attempt to put transactions together.</p>
<p>There is a renewed interest in Mexico as an alternative to Asia, given its comparative costs, no tariff/duty issues, and proximity to the US market. We have had the pleasure of touring some amazing Mexican factories this year, and hope to announce a transaction or two as a result of these efforts.</p>
<p>Residential, hospitality and office/contract sectors are all performing well, and we expect to see the merger and acquisition trend continue across these vertical sectors. Start planning now, and call us if we can be of assistance.</p>
<p>Quote of the year: "Someone is sitting in the shade today because someone planted a tree a long time ago." - Warren Buffett</p>
<p>See you at the market!</p>