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Tropitone Furniture gets new owner

Deerfield, Ill.-based Pfingsten Partners became majority owner of Tropitone Furniture, effective Oct. 24.

The expanded financial resources and operational expertise Pfingsten will provide are key to Tropitone's continued growth, said Michael Echolds, who remains a significant shareholder and will continue to serve as Tropitone's CEO.

“When Tropitone made the decision earlier this year to seek an institutional investor, a major priority was finding a partner that would build on the company's more than 50-year legacy of offering our customers stylish, yet practical furniture, as well as exceptional customer service,” Echolds said. By partnering with Pfingsten, Tropitone can strengthen its operations and expand its competitive presence in the industry, he said.

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