Published on : Tuesday, June 25, 2019
Luxury lighting, furniture and accessories resource Arteriors announced it has received capital from Minnesota based Norwest Equity Partners to finance future growth and expansion efforts.
The company said the deal, which closed on June 18, marks the first time it has partnered with an institutional investor to support its strategic growth.
Recent expansions have taken place at the New York Design Center, at its High Point Market showroom in the Commerce & Design building and at London’s Chelsea Harbour Design Centre. The company also noted that recent additions to its Guest Designer program including Frank Ponterio, Ray Booth, Beth Webb and Workshop ADP make the partnership with NEP “a natural step for Arterior’s evolution.”
“After 30-plus years as a founder-owned business, our entire team is excited for our investment partnership with NEP which will help us prioritize and resource our strategic initiatives and provide capital for growth,” said company founder Mark Moussa. “Providing superior service and value to our customers will remain our top priority as will our efforts to launch new and innovative, design-driven products. I have never been more excited about our prospects for growth and the future.” Mark conclded.
Source: Furniture Today