Decorative Concepts completes refinancing
Staff -- Home Accents Today, 1/1/2005
Decorative Concepts Inc. has completed a $60 million senior bank facility refinancing with LaSalle Business Credit, CEO Thomas G. Bowles announced. Other corporate initiatives include senior management changes and the introduction of six New Creative Enterprises product lines at the Atlanta market.
"Given the company's accomplishments this past year, the timing was right to refinance our senior debt facility," Bowles said. "We are delighted with the financial flexibility this gives the company. It assures the necessary liquidity to continue our strong growth program."
The Milford, Ohio-based vendor of home decor, floral and outdoor decorative products is owned by New York-based Fenway Partners, a private equity firm that has overseen DCI's management and strategic direction for five years. Fenway committed resources to develop product lines, improve operations and build an aggressive sales force and customer service program to create higher margins and improve sell-through for leading retailers.
"We have made significant management changes to augment the already strong leadership in our operating divisions," Bowles said. "Larry Gold returned as CEO of Aldik Artificial Flowers joining Mike Stadlberger, Aldik president, creating the strongest one-two punch in the high-end botanical business. Mark Johnson, president and Rick Looker, head merchant, continue their strong leadership at the very successful Teters Floral Products. At New Creative, Jan Slusher has joined the team with responsibility for key accounts and complements Sally Hofmann, who heads field sales. In addition, Kathi Lentzsch, who was elected to the board of directors of DCI in February, has joined New Creative as chief merchandising officer."
Under Lentzsch's direction, the Atlanta showroom was transformed in preparation for the launch of six New Creative product lines, showcased in settings by theme.
Talkback
Related Content
Related Content
