CLIENT TRANSACTIONS

Pride Family Brands

Company

Founded in 1977 and headquartered in Ft. Lauderdale, Florida, PFB Intermediate Holdings, LLC d/b/a Pride Family Brands (“Pride”) is a leading manufacturer, marketer and distributor of outdoor furniture. Pride offers a full array of outdoor products including tables, chairs, couches, fire pits, relaxers, umbrellas and other related items. Pride sells its furniture under three brands: 1) Castelle, ultra-premium, customizable aluminum furniture at a high-end price point; 2) Elements by Castelle, premium aluminum furniture at a mid-level price point with fabric customization capabilities and 3) SummerWinds, non-customizable steel outdoor, folding beach and camping furniture at an entry to mid-level price point.

Situation

Pride had successfully grown from a single location retailer to an international provider of both luxury and value-oriented outdoor furniture across a range of price points and distribution channels. Its vertically-integrated near-shore manufacturing facility in Costa Rica offers unmatched customization capabilities and complete manufacturing in four weeks and its strategic location provides significant delivery lead time advantages.

Solution

SSG was retained by Pride to conduct a comprehensive marketing process and solicit offers for the Company to solidify its long-term financial structure and position itself for future growth. The process attracted significant interest from multiple parties that engaged in a thorough review of the Company and submitted offers for the business. Brown Jordan International, a portfolio company of Littlejohn & Co., submitted the most compelling offer which led to an optimal outcome for the Company and its stakeholders.