Norwest Equity Partners Expands Consumer Product Portfolio with Thibaut, a Leading Designer of Premium Branded Wallcoverings, Fabrics and Home Furnishings
Founded in 1886, Thibaut is a leading designer and supplier of premium branded fabrics, wallcoverings and furnishings.
Thibaut is renowned for his signature exclusive designs and collaborative service approach with the interior design community.
NEP’s investment positions Thibaut for significant growth and expansion of product offerings, market channels and geographies
MINNEAPOLIS & WEST PALM BEACH, Florida, November 10, 2021– (BUSINESS WIRE) – Norwest Equity Partners (“NEP”), a leading middle market investment firm founded in 1961, has made a significant investment in Thibaut (or the “Company”), a major designers and suppliers of premium branded products. wall coverings, fabrics and furniture with an established reputation in the interior designer community. The transaction closed on November 9, 2021. Financial terms of the transaction were not disclosed.
Founded in 1886, Thibaut is the country’s oldest operating wallpaper company. The company’s product offering has grown over the years to include a variety of wall coverings, fabrics, tapes / trim and woven upholstery. Thibaut has become synonymous with stunning traditional and transitional designs in iconic color palettes, ranging from historic reproductions and traditional classic patterns to more contemporary and innovative designs. Based in Union, New Jersey, the company’s products are sold through interior designers, professional showrooms, and select retail stores. Thibaut operates a state-of-the-art distribution center in Charlotte and corporate showrooms in New York, Chicago, Atlanta and Los Angeles.
Rick Kilmer, CEO of Thibaut, said: âOver the years, Thibaut has built a reputation for exquisite designs, superior product quality and a collaborative service approach with the interior design community. Providing top notch service and beautifully relevant designs to our customers will remain our top priority. I couldn’t be more excited about the next chapter in our growth. “
NEP’s investment in Thibaut positions the Company for significant growth and expansion of product offerings, market channels and geographies. NEP has gained extensive experience working with growing, profitable and scalable design-driven product companies including Arteriors, Stanton Carpet Corporation and Momentum Textiles.
âThibaut is a great addition to our branded consumer products platform. In the context of the constantly growing and highly fragmented home furnishings market, Thibaut is poised to increase its market share based on high quality products, differentiated designs and close relationships with customers. interior designers. We are delighted to partner with Rick and the Thibaut leadership team to continue to develop and achieve our growth, âsaid Tony Armand, NEP Partner.
Kilmer continued, âAs we continue to grow and evolve, we look forward to partnering with NEP and leveraging their vast experience in the industry. our team, implementing scalable processes, investing in capacity and technology have helped us position ourselves for a bright future with NEP by our side. “
Jason Sondell, CEO of NEP, said: âThibaut’s business model and his broad growth plans create attractive attributes for an investment opportunity for NEP. The entire NEP negotiating team is excited to work with Thibaut’s management and others to further support the growth of the business.
Piper Sandler advised Thibaut on the transaction; Jones Day was legal counsel to NEP; BMO Harris Bank NA provided senior debt financing; and Norwest Mezzanine Partners provided subordinated debt financing.
You can find more information on thibautdesign.com and nep.com.
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Head of Marketing and Communications Norwest Equity Partners