West Palm Beach, FL, October 2014: Comvest Partners is pleased to announce that Comvest Investment Partners Fund IV (“Comvest”) has completed the acquisition of Old Time Pottery (the “Company”), a Tennessee-based discount retailer of home décor products.
Old Time Pottery was founded by the Peterson family and currently operates 33 store locations in 11 states throughout the Southeast and Midwest. Old Time Pottery provides an industry-leading selection of home décor products at discount prices, with merchandise spanning home accents, house & kitchenware, seasonal products, linens, crafts and more.
“We are excited to continue the growth of Old Time Pottery,” said Tom Clark, Managing Director at Comvest Partners. “Old Time Pottery is a brand that resonates with the value-focused home décor customer. Management has built a unique concept, which offers an expansive array of home décor products at an attractive price point. We look forward to working with management to continue the company’s success.”
“I am excited to partner with Comvest. Comvest brings a depth of retail expertise and a growth-oriented perspective to assist Old Time Pottery in pursuing its full potential,” said Robert Sharp, President and CFO of Old Time Pottery.
Old Time Pottery was advised on the transaction by Harris Williams & Co. and Bass, Berry & Sims, while Comvest was advised by Lazard Middle Market and Akerman. Debt financing was provided for the transaction by PNC Bank.
About Old Time Pottery:
Headquartered in Murfreesboro, Tennessee, Old Time Pottery is a leading discount retailer of home décor products
with 33 stores in 11 states throughout the Southeast and Midwest. Since its founding in 1986, Old Time Pottery has offered customers a broad selection of products, a differentiated shopping experience, and a compelling customer value proposition. For more information, please visit OldTimePottery.com. You can also follow Old Time Pottery on Facebook, Twitter and Pinterest.
About Comvest Partners:
Comvest Partners, with $1.3 billion of assets under management, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Since 2000, Comvest Partners has invested more than $1.9 billion of capital in over 130 public and private companies.