Lot 26 Studio Add-On Acquisition Completed Within 10 Months of Platform Launch
Detroit, MI – June 13, 2011 // Huron Capital Partners LLC announced today that its portfolio company, Artissimo Designs, Inc. (“Artissimo”), has acquired Lot 26 Studio, Inc. (“Lot 26”) a leading adhesive wall décor company. Lot 26 designs and markets adhesive wall décor, commonly referred to as decals. The partnership allows Lot 26 to continue to focus on its industry leading design, innovation and customer relationships, while leveraging Artissimo’s sales force, purchasing, content relationships and reputation for exceptional customer service.
Ken Floyd, CEO of Artissimo noted that, “We couldn’t be more excited to add two seasoned wall décor executives such as Wayne Hueners and Ann Marie Mendlow to our team. Their design innovation, reputation and drive will help propel Artissimo to even greater heights.” Ken added, “This is the first add-on acquisition that Artissimo has made and we are grateful for the advice and support provided by Huron throughout the process.”
Huron originally invested in Artissimo in July 2010, and was drawn to Artissimo due to its industry leading position, innovative design capabilities, and exceptional customer service. “We have been actively looking for ways to deploy more capital behind our top-performing team at Artissimo. While we have looked at many opportunities over the past year, Lot 26 was the most compelling because of its industry reputation, cultural fit with Artissimo and strategic customer opportunities,” said Huron Principal Jeremy Busch.
Since the time of Huron’s investment, gross margins have improved meaningfully as a result of operational improvements and the addition of a Huron Operating Partner with a strong background in the consumer products industry. Meanwhile, the launch of Artissimo Sports has been extremely successful, incorporating wall décor licenses from all major North American professional and collegiate athletic programs.