Sure Fit Acquired by Guardian Capital

NEW YORK-Guardian Capital Partners, a Philadelphia-based private equity firm, has purchased Sure Fit from D.E. Shaw Group.

Terms of the acquisition were not disclosed. According to a joint statement from Sure Fit and Guardian Capital, Wells Fargo Business Credit, Sure Fit's senior lender, and Argosy Private Equity provided additional financing for the transaction.

Hugh Rovit, Sure Fit's chief executive officer, will remain in his position, according to a company spokesperson. "Our goal in the coming year is to continue our growth and further develop the (Sure Fit) brand, which has high consumer recognition and is increasingly viewed as the authority in this market segment," Rovit said.

The statement said Guardian Capital invests in lower- to middle-market manufacturing and service companies, with annual revenues of between $15 million and $75 million.

"Sure Fit has successfully repositioned its products as affordable and practical solutions to higher-priced home-decorating alternatives, such as buying new furniture or reupholstering," said Scott D. Evans, Guardian Capital's managing partner.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money