Aldik management-led buyout positions company for growth
Staff -- Home Accents Today, 5/1/2007
Aldik's senior management joined forces with Encore Consumer Capital to buy the floral decor manufacturer and its Hong Kong subsidiary from former parent company Decorative Concepts Inc.
Since the mid-March acquisition, Aldik has brought all of its suppliers up-to-date, Chief Financial Officer Peter Simpson said. "I'm sure that will translate into better service for our customers down the road," he said.
The purchase returned Aldik's headquarters to Moorpark, Calif.
"As an independent company, Aldik will be able to further capitalize on its unique strengths, which include unsurpassed design capabilities, superior sales and marketing organizations and its renowned customer service," said Larry Gold, CEO. "With this change, Aldik is poised to become the clear market leader in the floral and home decor industry."
The senior management team remains intact. The purchase includes Aldik's core domestic and international business along with its Hong Kong subsidiary, which was renamed Sourcedecor.
"Essentially the business of Aldik hasn't changed," Simpson said. "It was a division of NCE and it's now a standalone company inside its own corporation. There were no employee changes whatsoever, from the top to the bottom.
"To customers, it should be initially absolutely transparent and it should mean over time that service will improve," Simpson said. "This is absolutely embraced by everybody here, particularly the senior management team. It's good to be independent."
Aldik has permanent showrooms in Atlanta, Chicago, Dallas, Las Vegas, Los Angeles, New York, San Francisco and Hong Kong.
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