Fort Point Capital Acquires Sullivans, Leading Consumer Product Distributor
Sullivans Marks Fort Point’s Fifth Platform Investment and Seventh Transaction
October 8, 2014
Boston, MA — Fort Point Capital, a Boston-based private equity firm, announced today that it has acquired a majority equity interest in Sullivan, Inc. (“Sullivans” or the “Company”), a leading designer and distributor of seasonal and all-occasion home décor products to specialty retailers. Headquartered in Sioux Falls, SD, Sullivans has built a reputation for world-class customer service and unique, high quality products that enable specialty retailers to offer true product differentiation and distinctive assortments. Sullivans was founded in 1968 and has been owned and run by the Sullivan family since inception.
Fort Point Capital acquired Sullivans in partnership with Mark J. Miller and Fred Behziz, long-standing executives in the consumer products and specialty retail space. Mr. Miller and Mr. Behziz will replace Mr. Bill Sullivan, the Company’s president, who is retiring after 25 years of service. The other members of Sullivans’ management team will continue on in their respective roles and are excited to invest alongside Fort Point Capital.
“I have worked with Fort Point Capital for two years to find the optimal platform in the consumer distribution space and appreciate their partnership and the opportunity they found for me to execute on our shared vision,” said Mark Miller.
“My team and I were searching for a partner who would bring a leadership solution, as well as provide the strategic and financial resources for the Company’s continued growth. We believe Fort Point is precisely the right partner to guide the Company going forward and build upon my family’s 46 year legacy,” said Bill Sullivan, president of Sullivans.
“We look forward to working with the management team at this exciting time,” said Christina Pai, principal at Fort Point Capital. “Sullivans is an outstanding company that is in front of significant opportunity to broaden its customer base and product lines.”
About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, service-oriented companies in partnership with strong management teams. Fort Point Capital is currently investing from FPC Small Cap Fund I. Please contact Fort Point at (617) 303-2121 or visit www.fortpointcapital.com.