BLOOMINGDALE, Illinois, and MARIETTA, Georgia— Boston Trade Interior Solutions, an interior design, procurement, and project management provider for hospitality, and its partner Blackford Capital, has acquired the assets of Design Environments Corporation, an interior design and interior architecture firm serving single and multi-family developments, collegiate housing, and continuing care retirement communities. The terms of the deal were not disclosed.
The transaction aligns two industry professionals into a single-source, national entity providing interior design, interior architecture, procurement, project management, and installation services to a wider array of residential, overnight, and short-term rental owners and developers.
Marietta, Georgia-based Design Environments works across the country providing interior design and interior architecture services in the southeast region of the United States. DEI will join Boston Trade—which has offices in Boston, Chicago, and San Francisco—as a division of Hospitality Consolidation Company, a Blackford Capital portfolio holding company. DEI’s approach to providing a company-owned and managed turnkey solution to its clients has driven its evolution into large regional and national developers.
“We are thrilled to add such a prestigious and well-respected company to our portfolio of services,” said Greg Kadens, CEO of Boston Trade. “The synergies between our two organizations offer a unique advantage as a design-first procurement business that differentiates from the standard single thread procurement providers and with our international product sourcing capabilities; we believe we can add significant value to DEI’s business model.”
“With the addition of DEI to our family of interior design brands, we now have a professional staff of over 50 designers with expertise across a wide array of markets and project types. What makes this so compelling is the depth, experience, and solutions we are now able to offer our clients.” Kadens said.
There are no staffing changes expected for the 48 employees of Design Environments. Donna DeLuca, who founded Design Environments in 1991, will stay on as a strategic consultant while Kristen Holloway will remain with the company as its president. The entire management team will also remain in place.
“The entire Design Environments team is excited about the opportunities that this combination presents,” DeLuca said. “We strongly believe that Boston Trade will make a great partner in our continued growth and expansion.”
Blackford Capital is an 11-year-old Midwest-based private equity investment firm specializing in helping founder-and family-owned companies up performance by improving operations and implementing aggressive growth plans.
“With this transaction, we have advanced our vision for Hospitality Consolidation Company, so it is optimally poised to serve the rapidly changing hospitality and residential development industry while providing a platform for future acquisitions and expanded market share,” said Martin Stein, founder and managing director of Blackford Capital and chairman of Boston Trade Interior Solutions. “We are confident that the combination will create a dynamic company with an experienced and accomplished leadership team that will meet the future needs of its customers in new and exciting ways. Our vision is to become one of the most diversified FF&E providers across multiple industries with shared design, sourcing, and digital capabilities.”
Dickinson Wright PLLC, Honigman LLP, and King & Spaulding LLP served as legal advisors; Midland State Bank and Assurance Mezzanine Fund provided financing. Plante Moran provided deal structure and accounting services. Benchmark International, Moore Ingram Johnson & Steele, LLP, and HLB Gross Collins, P.C. represented the seller.
