Result: Business Sold to Management
Industry: Manufacturing and Distribution
Justice Design Group, LLC (JDG), a portfolio company of Waveland Investments, was sold to Company management. Stevenson & Company was the exclusive sale advisor to JDG.
Founded in 1985, Justice Design Group is a designer, manufacturer and wholesaler of proprietary “mid to high-end” decorative lighting fixtures serving the residential, commercial and institutional markets. The Company provides a wide range of branded lighting fixtures throughout North America. It is the largest domestic manufacturer of ceramic lighting fixtures. Other proprietary designs are sourced from Asia and then warehoused, assembled and shipped from its US facility. JDG operates out of offices in Los Angeles and Dallas with a separate 73K square foot factory/warehouse facility in the Los Angeles area. The Company has over 50 employees.
JDG’s products are sold through various channels including showrooms, retail lighting stores, lighting specifiers for commercial sectors and a select group of ecommerce web sites. It works with a nationwide network of independent sales agents for the respective channels.
Stevenson “cleared the market” with an extensive outreach program which resulted in over 35 NDA’s and potential buyers. Stevenson’s efforts led to a competitive bid situation which ultimately precipitated an attractive offer from management to purchase the company.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!