The new ownership at Stylecraft includes, from left: Joey Judd, CFO; Jimmy Webster, president; Jim Webster, CEO; Mike Kennedy, VP of Asian Sourcing; Chris Lafont, vice president; and Andy Estes, national account manager.

The investment group, Silk Road, includes Jim Webster, now CEO; Jimmy Webster, now president; Joey Judd, CFO; Mike Kennedy, VP of Asian Sourcing; Chris Lafont, vice president; and Andy Estes, national account manager.

The sale was completed in May and is a full asset purchase, including the 150,000-sq.-ft. facility in Southaven, Miss. The new ownership will retain all showrooms and current licenses, including Wrangler, Cabana Joe and Terry Redlin. The company is also opening its own factory in China where lamp parts will be produced. Terms of the purchase were not disclosed.

"I feel we have brought together the strongest management team in the business to carry the company back to value-priced product backed by the best customer service in the industry," Jim Webster told Home Accents Today about the purchase.

When asked what customers can expect, Jimmy Webster said, "value, customer service and a commitment to satisfying the current needs of our retail partners."

"We see this as an opportunity to bring a company back to where it was in the heyday," Lafont said. "There's a huge amount of energy that has been reinjected into the company."

The company is planning a major launch of new products during the Las Vegas and High Point markets this fall.