Boston Trade Interior Solutions, a provider of interior design, procurement, and project management services for hospitality providers, and its partner Blackford Capital, has successfully 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.
“We are thrilled to add such a prestigious and well-respected company to our portfolio of services,” said Greg Kadens, chief executive officer at 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.
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 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 supercharge 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; and 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 PC represented the seller.