Acquisition Expands Outdoor and Garden Offering with Windchime Market Leader
September 14, 2021
Sullivan, Inc. (“Sullivans” or the “Company”) announced today that it has completed the acquisition of Woodstock Chimes (“Woodstock”), a leading designer and distributor of musically tuned windchimes. Founded in 1979 by Garry and Diane Kvistad, Woodstock is one of the largest providers of windchimes in the United States, with over 900 SKUs sold across the e-commerce (including direct-to-consumer), independent retailer and national account channels. In addition to windchimes, Woodstock also designs and distributes gongs, bells, crystal suncatchers and children’s musical instruments.
“We are thrilled to welcome Stacey and the Woodstock team into the Sullivans family,” said Tom Russo, Chief Executive Officer of Sullivans. “Woodstock is undoubtedly the market leader in chimes and is the right partner to take Sullivans into the outdoor and garden décor business. The alignment of our companies’ cultures and Woodstock Chimes’ award-winning product line, unwavering commitment to customer service and talented, dedicated team makes this a very appealing addition to the Sullivans’ portfolio.”
Stacey Bowers, President of Woodstock, commented, “I am excited to be partnering with Sullivans for our next chapter. For decades we’ve focused on our core offerings and the musical elements of our chimes, but you look at a company like Sullivans that is truly very innovative and I can’t help but get excited about the potential for growth and product development.”
“The Sullivans team has long viewed the outdoor and garden décor business as a complementary product category to add to the Sullivan’s portfolio. We are fortunate to be partnering with a pre-eminent brand in the space and look forward to seeing the combined strength of both companies across all sales channels,” said Brooke Ablon, Partner at Fort Point Capital.
The Huntington National Bank and GMB Mezzanine Capital provided debt financing for the transaction. Kirkland & Ellis and CliftonLarsonAllen advised Sullivans, while Aramar Capital Group served as exclusive financial advisor to Woodstock in the transaction.
Sullivans is a leading designer and distributor of seasonal and all-occasion home décor products to specialty retailers. 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. To learn more, visit www.sullivangift.com.
About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, business services companies in partnership with strong management teams.