Z Capital Partners, L.L.C. has acquired Twin-Star International, a designer and manufacturer of electric fireplaces and home furnishings.
According to Z Capital, the company plans to leverage its financial strength and expertise to expand Twin-Star’s established retail platform into additional channels, including home building, hotels and lodging and commercial markets, as well into new geographies. As Z Capital expands Twin-Star’s reach, it will continue to benefit from leveraging its existing dedicated supply chain infrastructure to ensure quality control, the company said.
“As the market leader in the electrical heating and furniture industry, Twin-Star is well-positioned for continued growth and success, and we are excited to welcome the company into the Z Capital family,” said James Zenni, president and CEO of Z Capital. “We look forward to working with the Twin-Star team to expand the reach of the company’s best-in-class brands. With Twin-Star’s dedicated supply chain and track record of innovation, we are excited about the opportunity to drive growth and enter new markets while continuing to advance cutting-edge technological developments.”
Peter Harper, Twin-Star’s co-president and CFO; Marc Sculler, its co-president; and Andy Bandremer, the company’s evp, will continue to oversee daily operations of Twin-Star.
“We are excited to be part of the Z Capital family,” said Harper. “Z Capital’s financial strength, acumen and operational expertise will help Twin-Star continue to enhance and expand our product offerings and better serve our customers while further elevating the Twin-Star brand.”
Headquartered in Delray Beach, Florida, Twin-Star designs, manufactures and markets a broad line of decorative electric fireplaces, heaters, home furnishings and consumer electronics. Its patent-pending fire prevention technology, Safer Plug and Safer Sensor, are designed to prevent the overheating of electrical products and electrical fires, are integrated into brands like Duraflame, ClassicFlame and PowerHeat.
In 2014, Twin-Star had acquired Bell’O International Corp., a home entertainment furniture manufacturer.
Z Capital Partners, L.L.C. is the private equity management arm of Z Capital Group, L.L.C., a global alternative investment manager with approximately $2.3 billion of regulatory assets under management with offices in New York; Lake Forest, IL; and Zurich, Switzerland.