Sterling Investment Partners ("Sterling"), announces that its portfolio company, Belnick LLC (“Belnick” or the “Company”), has acquired Classroom Essentials Online, Inc. (“Classroom Essentials”). Founded in 1985, Classroom Essentials is a distributor of value-oriented furniture through company-owned microsites to retail, residential, commercial and institutional end markets. Key product categories include church chairs, folding chairs and tables, Chiavari chairs, banquet chairs and other products.
Belnick is a leading online distributor of value-oriented furniture for residential and commercial use, serving both wholesale and direct-to-consumer channels. The Company offers over 4,300 unique furniture products, including office chairs, stacking chairs, folding chairs, restaurant furniture and reception furniture.
According to M. William Macey, Co-founder and Managing Partner at Sterling Investment Partners, “The acquisition of Classroom Essentials will enhance Belnick’s competitive position and product offering in the Company’s direct-to-consumer business. The combination of the two businesses will allow us to realize cost-synergies as well as to benefit from cross-selling products to new and existing customers. In addition, we are very pleased to add key members of the Classroom Essentials management team to the Belnick management team.”
Sterling Investment Partners
Sterling Investment Partners is a private equity firm with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has over $1.5 billion in initial fund commitments. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $15.8 billion, representing more than 160 transactions. Key industries Sterling focuses on include B2B and consumer value-added distribution, business services, specialty manufacturing, and transportation and logistics. www.sterlinglp.com