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October 15. 2001
HURON CAPITAL PARTNERS LLC, MCM CAPITAL PARTNERS LLC, AND JIMMY D. WEBSTER, JR. ACQUIRE STYLECRAFT LAMPS, INC.
DETROIT, Michigan, October 15, 2001 // PRNewswire // Huron Capital Partners LLC and MCM Capital Partners LLC announced today that they have recently co-sponsored the acquisition of Stylecraft Lamps, Inc. ("Stylecraft") along with Jimmy D. Webster, Jr., Stylecraft's CEO. The purchase price for Stylecraft was not disclosed.
Founded in 1968 and based in Hernando, Mississippi, Stylecraft designs, manufactures and markets over 700 SKU's of traditional-style consumer portable table and floor lamps. Stylecraft has the broadest product offering in the mid-priced portable lamp segment and differentiates itself with its unique ability to deliver attractive fashions at modest price points. Stylecraft lamps are distributed to all major retail channels, including independent retail stores, specialty home décor retailers, mass merchants, home centers and department stores. According to Jimmy Webster, President & CEO of Stylecraft, "The company is the premier manufacturer in the industry. By partnering with Huron and MCM, we are well positioned to take advantage of tremendous growth opportunities over the next several years".
Huron Capital Partners, based in Detroit, and MCM Capital Partners, based in Cleveland, both invest in acquisitions, buyouts and recapitalizations of growing middle-market companies having revenues between $10 million and $100 million. Each firm employs the strategy of partnering with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
For further information, please contact Brian Demkowicz or Mike Beauregard at Huron Capital (313/496-1050).