Page 16 - Lighting Magazine February 2019

| intheNEws
Stay Connected to Breaking News Online at www.enLIGHTenmentmag.com
QUOIZEL BECOMES PART OF NBG HOME, HEADQUARTERS REMAINS IN SOUTH CAROLINA
Rick Seidman, President of Quoizel and the company’s executive team announced last month that the
Goose Creek, S.C.-based, family-owned manufacturer has been sold to New York-based private equity rm Syca- more Partners and will become part of its NBG Home group headquartered in Austin, Texas.
Sycamore Partners acquired NBG Home in 2017 from Kohlberg & Com- pany, LLC, the same year it purchased o ce equipment retail giant Staples for an estimated $6.8 billion. This not the
rst foray into the lighting industry for Sycamore Partners since NBG already has two lighting brands – Jimco and DSI Lighting – that also o er ceiling fans.
Quoizel’s headquarters and team will remain in Charleston, S.C., and Rick Seidman will continue in his role.
According to a statement the com- pany released to customers on January 7, Seidman wrote, “We are excited to partner with NBG Home to provide our customers with a broader product o ering and enhanced capabilities in marketing, new product development,
global sourcing, and manufacturing. [The acquisition] is the result of over two years of thoughtful diligence, hard work, and succession planning on behalf of the Phillips family and the Quoizel executive management team. With Ira’s passing and Toni’s retirement, it was time for Quoizel to join forces with a larger home décor company to ensure a strong infrastructure for the future.”
Sycamore Partners is no stranger to
Continued on page 14
www.innovaaonslighang.com