Evanston, Ill., August 3, 2021 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced that it has partnered with the current management team in an investment to support the recapitalization of Brewster Home Fashions LLC (“Brewster”) and Fine Decor Wallcoverings Ltd (“Fine Decor” and together with Brewster, the “Company”). Terms of the transaction were not disclosed.
The Company is a designer, supplier, and manufacturer of “Do It Yourself” peel & stick wallpaper, peel & stick flooring, traditional wallpaper, home décor, decals, and additional products for the residential market in the U.S. and internationally.
Paul Feinstein will continue leading Brewster as CEO. Mr. Feinstein commented, “We are excited to partner with IOP as we embark on the next stage of our business. I believe their operational expertise and successful track record will be additional assets as Brewster continues to deliver innovative, affordable decorative solutions for consumers seeking to elevate their living space.”
Alberto Satine, an IOP Operating Principal, will assume the position of Chairman of the Company. Mr. Satine is a member of IOP’s Board of Operating Principals which is comprised of experienced executives who provide leadership to the businesses in which IOP invests. Mr. Satine commented, “I believe Brewster’s growing family of peel & stick wallpaper and flooring products, present a significant value creation opportunity that brings the company’s exciting and longstanding designs from the traditional wallpaper market to the increasing “Do It Yourself” segment.”
Kyle Hood, Managing Director of IOP, added, “We are excited to partner with the Brewster team. They have generated an attractive amount of growth in the business and we look forward to supporting them as they continue to grow the Company.”
The Company represents IOP’s eighth platform investment in Industrial Opportunity Partners III, L.P.
TM Capital represented the shareholders of Brewster and Fine Decor. JP Morgan and Yukon Partners provided financing for the acquisition. Winston & Strawn LLP provided legal representation to IOP in the transaction.
About Brewster
Brewster is a designer and supplier of “Do It Yourself” peel & stick wallpaper, peel & stick flooring, traditional wallpaper, home décor, decals, and additional products for the residential market. Brewster’s headquarters and main distribution facility is located in Randolph, Mass, with an additional facility handling home décor products located in Statesboro, Ga. For more information, visit Brewster’s website www.brewsterwallcovering.com.
About Fine Decor
Fine Decor is a U.K. based designer and manufacturer of traditional wallpaper and peel & stick wallpaper. Fine Decor operates out of one facility in Congleton, Cheshire, England. For more information, visit Fine Decor’s website www.finedecor.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.