C.F. Stinson Sells Majority Interest to BV Investment Partners
July 28, 2016
BOSTON, Massachusetts (USA) BV Investment Partners (BV) has purchased a majority interest in C.F. Stinson, a designer and wholesaler of textiles to the commercial interiors industry.
BV is a middle-market private equity firm focused on the information, business services and communications sectors.
BV is investing in partnership with Keith and Glenn Stinson, the third generation of family ownership. Keith and Glenn will continue to run the business and maintain a significant ownership interest in the Company, a spokesman for BV told F&FI. Stinson serves diverse commercial markets including the hospitality and healthcare industries. It is said to have a substantial percentage of its business derived from the growing demands of the U.S. healthcare delivery industry.
Glenn Stinson
C.F. Stinson was founded in 1952 and is based in Rochester Hills, Michigan. Stinson is said to leverage a “patented, tech-enabled sample system developed by its wholly owned subsidiary, Sample Technologies. This system allows customers at all levels of the supply chain to access Stinson’s fabrics and order samples which is integral to the design and specification process across multiple market segments, according to BV,” a BV announcement stated.
Andrew C. Davis, Managing Director of BV, said, “Stinson is the Fund’s third investment with a tech-enabled distribution theme and has a number of attractive characteristics that align well with BV’s investment strategy and philosophy.
Keith Stinson, President and CEO, said, “As third-generation family owners, my brother and I were careful in selecting a financial partner that aligns with our culture, values and vision for the future. It is clear to us we have found this in BV and we look forward to collaborating with the BV team to continue to accelerate the growth of C.F. Stinson.”
Glenn Stinson, Vice President and COO, added, “BV has experience within the tech-enabled distribution segment and has a long and successful track record of working with market leading firms. We are looking forward to the next phase of Stinson’s growth in partnership with BV and we are confident the BV team will help us continue to better serve our customers, suppliers and employees.”
Sean Wilder, Principal of BV, said, “Stinson has a very strong brand and reputation in its industry, established over the course of several decades. We are honored and thrilled to be partnered with Keith, Glenn and the rest of the Stinson team to help build upon Stinson’s strong legacy and success to date. Stinson is a pioneer and leader when it comes to leveraging data and technology to efficiently and reliably deliver best-in-class services. BV’s successful investments in ECRM and Plasco ID represent B2B, software-driven businesses that we have helped grow exponentially, both organically and through acquisition, and we look forward to pursuing and accomplishing similar results with C.F. Stinson.”
Keith Stinson
BV Investment Partners is currently investing its eighth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.7 billion in 84 companies, actively targeting investments in the information and business services and communications industries.