Generational Group Advises Chariho Furniture in Its Sale to Teamshares

By Generational Group

10/02/2024

Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of its client, Chariho Furniture, to Teamshares. The acquisition closed September 1, 2024.

Located in Richmond, Rhode Island, Chariho Furniture, is a family-owned business offering high-quality American-made furniture since 1987. Specializing in handcrafted wood furniture, they are dedicated to providing durable, customizable pieces with a focus on superior craftsmanship. Their collection includes living room, dining room, bedroom, and office furniture, with options for custom designs to meet customers’ specific needs. Known for excellent customer service, Chariho Furniture is committed to helping clients create beautiful and lasting spaces.

Teamshares, a company that helps small businesses become employee-owned, is a national company that has helped more than 90 businesses across 30+ states and 40 industries become employee-owned. By acquiring businesses from retiring owners, Teamshares empowers employees to become shareholders while providing ongoing financial education and support. The company’s goal is to create sustainable, employee-owned businesses that benefit both the former owners and the new workforce, fostering long-term success and wealth generation. Through its innovative model, Teamshares is helping to reshape the future of small business ownership in America.

Generational Group Executive Managing Director of M&A – Eastern Region, David Fergusson, and his team, led by Generational Affiliate, Jeff Carignan, with the support of Managing Director, M&A, Corey Painter, closed the deal. Senior Managing Director, Ashok Tandon, and Chief Marketing Officer, David Ohrvall, established the initial relationship with Chariho Furniture.

Ryan Binkley, CEO of Generational Group, added, “This transaction highlights our commitment to facilitating deals that create lasting value for both parties. At Generational Group, we are proud to have played a role in bringing together two organizations poised for continued success.”