Generational Equity Advises Hickory Park Furniture Galleries in Sale to AH Equity Investments

By Generational Equity

02/18/2021

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Hickory Park Furniture Galleries, Inc., to AH Equity Investments. The acquisition closed February 8, 2021.

Hickory Park Furniture Galleries (HPF), located in Hickory, North Carolina, is a furniture retailer. HPF stores and outlet are located inside the Hickory Furniture Mart (Mart), a building consisting of a mix of independent furniture retailers, including custom order showrooms, factory direct outlets, furniture outlets and dedicated manufacturers’ galleries.

The Company offers quality beds, dining room tables, living room sofas, home office desks, media cabinets and outdoor sofas. HFP carries multiple brands such as Hancock and Moore, Classic Leather, and Bassett which are exclusive within the Mart.

Located in Hickory, North Carolina, AH Equity Investments (AH) is the United States-based holding company for Alternative Holdings, a multinational permanent capital vehicle located in Panama City, Panama. AH enters each partnership with the intention of never selling. They are a holding company with no outside investors and no exit dates. Due to their long-time horizon, the culture of a potential company is just as important as its financials.

AH is always looking to acquire growing, profitable, privately held companies with proven business models, records of revenue and earnings growth, and a plan to sustain that growth. They prefer to work with the current management team or promote from within and are open to purchasing outright the business or partnering with the current owners for future growth.

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team, led by Managing Director of Mergers and Acquisitions, Jack Sluiter, with the support of Vice President, Mergers & Acquisitions, Tristan Keeffe, successfully closed the deal. Executive Managing Director Randy Kamin established the initial relationship with HPF.

“Going to market with a retail client mid-pandemic, had its challenges – economically and logistically. Especially dealing with a multi-national buyer. But the company was structurally sound going in and navigated the COVID environment without a hitch. The buyers saw the company for what it was; a strong viable company with a solid management layer to carry on operations long into the future. AH ended up being the absolute perfect partner for our client,” said Sluiter.