{"id":40351,"date":"2020-01-24T08:35:44","date_gmt":"2020-01-24T07:35:44","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=40351"},"modified":"2020-01-24T08:35:48","modified_gmt":"2020-01-24T07:35:48","slug":"novacap-portfolio-company-bestar-acquires-bush-industries","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2020\/01\/novacap-portfolio-company-bestar-acquires-bush-industries\/","title":{"rendered":"Novacap portfolio company Bestar acquires Bush Industries"},"content":{"rendered":"\n<p><strong>Novacap, one of\u00a0Canada&#8217;s\u00a0leading private equity firms, is proud to announce today that Bestar, one of its portfolio companies designing and manufacturing\u00a0<\/strong><em><strong>ready-to-assemble<\/strong><\/em><strong>\u00a0(RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Accelerate current growth<\/h3>\n\n\n\n<p>The two companies have over 130 years of combined history in the RTA furniture industry and consolidated sales of approximately\u00a0US$200 million\u00a0(approximately CAN$260 million).<\/p>\n\n\n\n<div class=\"wp-block-button is-style-squared\"><a class=\"wp-block-button__link has-text-color has-very-dark-gray-color has-background has-very-light-gray-background-color\" href=\"https:\/\/www.bushbusinessfurniture.com\/\">> Bush Business Furniture<\/a><\/div>\n\n\n\n<p>The companies share some customers across the North American market and will leverage each other&#8217;s strengths to continue and accelerate their current growth. Together, the companies will provide a large and growing product offering across several categories, the industry&#8217;s leading quick shipment and delivery capabilities, and an expansive team of e-Commerce marketing and sales specialists. The combined companies will have a strong and deep leadership team and a stable long tenured workforce of over 600 employees, including more than 200 in\u00a0Canada.<\/p>\n\n\n\n<div class=\"wp-block-button is-style-squared\"><a class=\"wp-block-button__link has-text-color has-very-dark-gray-color has-background has-cyan-bluish-gray-background-color\" href=\"https:\/\/officerepublic.news\/en\/2017\/07\/novacap-announces-partnership-canadian-furniture-manufacturer-bestar-inc\/\">> Novocap announces partnership with Bestar [2017]<\/a><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Concentrate on E-commerce<\/h3>\n\n\n\n<p>&#8220;<em>Bestar&#8217;s goal is to concentrate their efforts on E-Commerce solution for Home\/Office Furniture<\/em>,&#8221; stated\u00a0Frederick Perrault, Senior Partner at Novacap, and Chairman of the board of Bestar. &#8220;<em>Bestar&#8217;s and Bush&#8217;s leadership teams see a significant and fast-growing market opportunity for furniture sold online and shipped directly to the end consumer. This emerging business model provides furniture consumers a convenient, rapid and affordable shopping solution<\/em>.&#8221; added Perrault.<\/p>\n\n\n\n<p>&#8220;<em>While we will see some savings from efficiencies once the companies are integrated, our main objective for the combination will be to further expand our product assortment, leverage our nationwide quick shipping capabilities, and our global manufacturing and sourcing footprint to further accelerate the rapid growth we are both experiencing,<\/em>&#8221; said\u00a0Michael Evans, President and CEO of Bush Industries, who will serve in the same role for the combined entity. Evans added: &#8220;<em>Our customers will see little to no change in direction as we move forward. We will continue on our rapid pace of new product and category introductions. We will continue to hone and speed up our distribution services and we will add supplementary warehouse locations during 2020 in order to answer our client&#8217;s needs<\/em>.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">&#8220;Maintain head office and quality jobs in Qu\u00e9bec&#8221;<\/h3>\n\n\n\n<p>&#8220;<em>Bestar is an industry leader producing quality Qu\u00e9bec-made furniture using state-of-the-art robotic processes,&#8221;<\/em>\u00a0stated Luc M\u00e9nard, Chief Operating Officer of Desjardins Capital. &#8220;<em>We are proud to support this flagship in its acquisition of its U.S. competitor, Bush Industries. In doing so, Desjardins Capital is helping to maintain a head office and quality jobs in the province of Qu\u00e9bec, in keeping with its mission.<\/em>&#8220;<\/p>\n\n\n\n<p>&#8220;<em>Bestar has demonstrated that a strong digital strategy is essential to ensure the growth of manufacturing companies. Supporting companies like Bestar in the consumer goods&#8217; industry is at the heart of the Fonds&#8217;s mission.&#8221;<\/em> added for her part Janie B\u00e9\u00efque, Executive Vice-President for Investments at Fonds de solidarit\u00e9 FTQ.<\/p>\n\n\n\n<p>Bestar&#8217;s headquarters will be located in\u00a0Sherbrooke, Qu\u00e9bec,\u00a0Canada.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><em><a href=\"https:\/\/www.bushbusinessfurniture.com\/\">Featured\u00a0image: Bush\u00a0Business\u00a0Furniture<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Novacap, one of\u00a0Canada&#8217;s\u00a0leading private equity firms, is proud to announce today that Bestar, one of its portfolio companies designing and manufacturing\u00a0ready-to-assemble\u00a0(RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home. Accelerate current growth The two companies have over 130 years of combined history in&hellip;<\/p>\n","protected":false},"author":6,"featured_media":40352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3091,5312],"tags":[4611,5881],"jetpack_publicize_connections":[],"acf":{"app_afbeelding":false,"app_titel":"Novacap portfolio company Bestar acquires Bush Industries","app_article":"<p><!-- wp:paragraph --><\/p>\n<p><strong>Novacap, one of\u00a0Canada&#8217;s\u00a0leading private equity firms, is proud to announce today that Bestar, one of its portfolio companies designing and manufacturing\u00a0<\/strong><em><strong>ready-to-assemble<\/strong><\/em><strong>\u00a0(RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home.<\/strong><\/p>\n<p><!-- \/wp:paragraph --> <!-- wp:heading {\"level\":3} --><\/p>\n<h3>Accelerate current growth<\/h3>\n<p><!-- \/wp:heading --> <!-- wp:paragraph --><\/p>\n<p>The two companies have over 130 years of combined history in the RTA furniture industry and consolidated sales of approximately\u00a0US$200 million\u00a0(approximately CAN$260 million).<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n","app_link_title":"","app_link_url":"","app_display":"Ja","bedrijfsnaam":"","related_profiles":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Novacap portfolio company Bestar acquires Bush Industries | OfficeRepublic<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/officerepublic.news\/en\/2020\/01\/novacap-portfolio-company-bestar-acquires-bush-industries\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novacap portfolio company Bestar acquires Bush Industries | OfficeRepublic\" \/>\n<meta property=\"og:description\" content=\"Novacap, one of\u00a0Canada&#8217;s\u00a0leading private equity firms, is proud to announce today that Bestar, one of its portfolio companies designing and manufacturing\u00a0ready-to-assemble\u00a0(RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home. 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