Rugs Direct receives private equity investment
April 18, 2017,
Rugs Direct, founded in 1997, is a pure play retailer of area rugs, throw rugs and rug runners, with 180,000 skus available for purchase throughout North America. Its site receives over 46 million page views annually by consumers, home decorators and professional interior designers, according to the company.
Bob Levine, managing partner of L2 Capital, said, “We are very excited to be able to support such a successful company and group of managers. Together, with the assistance of the world-class board of directors we’ve assembled, we’re optimistic we’ll be able to build upon the company’s current growth trajectory.”
David Craig, co-owner of Rugs Direct, praised L2’s in-house operational and e-commerce expertise, as well as its external consumer product and direct-to-consumer marketing resources. “This partnership places Rugs Direct in an outstanding position for growth and continued leadership in the home-décor market,” added Randy Kremer, Rugs Direct’s other co-owner.
L2 Capital Partners is a lower middle market private equity family office that specializes in making controlling or minority investments in business service, consumer product and manufacturing companies with enterprise values up to $60 million.
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