Tropitone making progress in search

Manufacturer hopes to obtain institutional investor to take advantage of growth opportunities

Tropitone Furniture is making significant progress in its plan to join with an institutional investor, the company reported in late August.  
“We are pleased with the progress we've made in searching for the right financial partner for Tropitone, and the company has attracted substantial interest from the private equity community,” said Michael Echolds, Tropitone’s chief executive officer. “Based on the discussions we have had thus far, we are confident we will establish a relationship with a premier institutional investor committed to helping us grow our business.”

In June, Tropitone announced it had engaged Chicago-based Lincoln International to be its financial adviser to seek an institutional investor to provide the company with access to expanded financial resources to accelerate future growth plans. Tropitone’s revenue and earnings have grown sequentially each year for the past five years.

“With the continued strength of Tropitone’s position in both the retail and hospitality markets, the company sees many exciting opportunities for future growth in what has become an increasingly global and competitive marketplace,” Echolds said. “An institutional investor can provide the access to the additional financial resources that Tropitone will need to take advantage of these opportunities.”

Troptione was founded over 50 years ago by the Baker family, and Doug Baker, along with Angella Baker, has been the principal shareholder since 1992. Echolds anticipates continuing in his role as CEO with the current management team when the new investor is in place, and he expects to remain a significant shareholder in the company as well.

Featured Video

  • Talking Outdoor Trends with Designers Kelli Ellis and Eddie Ross

    Camera Icon More Videos

Exterior Design

Exterior Design

See our new publication!  Exterior Design promises to showcase the best, most innovative product design across all key categories of outdoor.  With a unique vision and a focus on fashion, design, luxury and style, it's a must-see magazine for forward-thinking designers and high-end retailers. See the inaugural issue!

May Digital Edition

Casual Living Digital Edition

Don’t miss the May digital edition of Casual Living and our third installment of the Elements series—Water. Also, contributor Laurie Rudd shares the latest in fashionable fountains and water features. And lastly, designer Libby Langdon shows how adding a little water—fountain, bubble wall or even a peel-and-stick beach scene—can up the ambiance in any showroom. 

Take a moment to subscribe!

May Digital Edition