After news of Quoizel’s parent company NBG Home filing for Chapter 11 in February briefly caused concern in the decorative lighting community (NBG quickly resolved the situation by receiving $30 million of new capital and reducing its long-term debt by $350 million), now comes word that the legendary lighting company has emerged as a stand-alone company owned by a group of investors led by credit funds and accounts managed by KKR.
Still headquartered in the Charleston, S.C. area and with long-time Quoizel executive Rick Seidman remaining CEO, the manufacturer is ready for its next chapter with minimal interruption to its customers.
“Quoizel has been serving the lighting needs of consumers for nearly a century and we are excited to begin this new chapter in our proud history,” Seidman said. “We are grateful to our employees for their tireless efforts and contributions, to our customers for their loyalty, to our suppliers for their continued support and to our new owners for their confidence and optimism in the future of our company. We look forward to continuing to deliver our brand promise for quality and innovation in decorative lighting with a customer first attitude.”
Founded in 1930 in New York, Quoizel relocated to the 52-acre site in Goose Creek, S.C. where it remains today. For decades the company was under the ownership and leadership of the Phillips family. The late Ira Phillips passed away in 2018 at age 90, and his son Todd Phillips retired from the industry to pursue other interests. NBG Home purchased Quoizel in 2019, where it joined the brands Pinnacle, Jimco, Patton, Plantation Patterns, and THRO.