Blackford Capital, a lower middle market private equity firm, has bought LTD Online Stores Inc., a patio furniture e-commerce business and distributor that markets and sells furniture through wholesale/drop-shipping, a direct-to-consumer website and a retail storefront located in San Diego, Calif.
LTD is the third addition to Blackford’s patio portfolio in the past year and joins Artificial Turf Supply and Starfire Direct as the platform evolves to become a one-stop shop for all outdoor living needs within the backyard consumer segment.
“We’re excited to welcome LTD to the patio platform and look forward to expanding our highly diversified product mix across a proven omni-channel distribution network,” states Paul Doyle, managing director at Blackford Capital and chairman of the patio portfolio.
Website Closers served as financial advisor and Aegis Law served as legal advisor to LTD. Varnum LLP served as legal advisor and Rehmann served as the financial and tax advisor to Blackford. Mercantile Bank of Michigan provided debt in support of the transaction.