My team and I were searching for a partner that 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.
- Sioux Falls, SD
- Business Services
- Date Acquired:
- September 2014
A home décor distribution company wanted to capitalize on its legacy, now Fort Point Capital is helping to craft a new era of success.
Headquartered in Sioux Falls, South Dakota, Sullivans is a leading designer and distributor of seasonal and all-occasion home décor products to specialty retailers. The company had built a reputation for world-class customer service and unique, high-quality products that enable specialty retailers to offer distinctive assortments.
After 25 years of leadership under the Sullivan family, the president was retiring, and the company turned to Fort Point Capital to help bring new leadership as well as the strategic and financial resources for continued growth.
Fort Point Capital brought a skilled operator to lead the company and is providing the support needed to help broaden its customer base and product lines.
Introduced New Leadership
- Acquisition made in partnership with operating executive Mark J. Miller, a long-standing executive in the consumer products and specialty retail space, who replaced the company's retiring president.
Improved Corporate Governance
- Improved board meetings.
- Established audit and compensation committees.
- Added outside Directors.
Aligned Interests with Management
- Created and implemented performance-based compensation program.
- Senior managers invested in the company for the first time.
Implementing Growth Strategy
- Developed strategic growth plan.
- Investing in sales and marketing.
- Improving financial reporting.
- Upgrading IT systems.