Bush Industries, Inc. has announced that a management group including Jim Garde, the company’s CEO, Neil Frederick, CFO, Mike Evans, executive vp business development, and Steve Phelan, executive vp sales, has purchased the company. The case goods and ready-to-assemble furniture maker will now be 100% owned by the management group, the company reported.
Bush operates two North American divisions– BBF and Bush Furniture– as well as China operations, the company noted. It is headquartered in Jamestown, N.Y., with manufacturing and distribution facilities located in China, Nevada, Western New York and Pennsylvania. A company spokesperson said that immediate plans call for retaining manufacturing in the United States.
“We are extremely excited about the opportunities we have to grow our business,” Garde said in announcing the acquisition. “Our ownership structure and financing arrangements provide a solid platform for growth. That, combined with quality products, a best-in-class distribution system, and a great team will create a venture that rewards all involved.”