GRAND RAPIDS, Mich., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Blackford Capital (“Blackford”), a leading lower middle market private equity firm, today announced the acquisition of Empire Distributing, an outdoor living and hearth distributor. This marks the latest add-on to the Patio Consolidation Platform (the “Platform”) and expands its operations to provide full product breadth with outdoor living and hearth items and achieve Blackford’s goal of creating an omnichannel platform to being a one-stop-shop for the backyard. The terms of the transaction are not being disclosed.
Co-Founded in 1978 by Mike and Lois Rupp in Arcade, New York, Empire Distributing is a premier distributor of hearth and outdoor living products servicing more than 780 dealers across the Northeast and Midwest US. Empire Distributing’s hearth product offerings include fireplaces, stoves, gas logs, inserts; and its outdoor living items include fire pits, fire tables, BBQ grills, kitchen islands, outdoor heaters and fireplaces. With more than 75 product lines from over 100 industry-leading hearth and outdoor living manufacturers, and with nearly 200,000 square feet of office and warehouse space across three facilities, Empire Distributing brings extensive scaling capabilities and a dealer distribution channel to the Patio Consolidation Platform.
Blackford’s vision has been to build an asset-light, multiproduct, omnichannel marketing Platform for the outdoor living market. To build it into a comprehensive one-stop-shop, Blackford acquired Starfire Direct and Artificial Turf Supply in 2022 and, subsequently, LTD Online in 2023. The acquisition of Empire Distributing is expected to dramatically increase the Platform’s size and add a new distribution channel as well as new geographies.
“We are impressed by Empire Distributing’s strong sales talent and processes and are excited to welcome the company to the Patio Consolidation Platform,” said Martin Stein, Founder, and Managing Director of Blackford Capital. “With Empire we’re positioned to enhance our distribution channels, broaden our product offerings, capture synergy and build operational efficiencies. We believe the outdoor living segment of the residential homeowner market has strong growth potential, and this acquisition strengthens our ability to lead in that space.”
Jeremy Rupp, President of family-and founder-owned Empire Distributing, is the son of the co-founders, and will continue to lead the company following the acquisition. Jeremy has 25 years of experience managing distribution and sales operations, and oversees warehouse management, logistical operations, purchasing/receiving and IT. His brother, Jason, will assume the role of New Business Development. The Rupps will remain employed at Empire Distributing through the acquisition and employees will retain their current positions as the company focuses on growth within the consolidation platform and in the broader hearth and outdoor living market.
“We are delighted to join forces with Blackford and be part of Patio Consolidation Platform,” said Jeremy. “Partnering with their experienced management team will allow us to diversify our product lines and expand into new markets. We are excited to gain Blackford’s sourcing expertise and to partner with the existing Patio Platform companies.”
Paramax served as the exclusive financial advisor to Empire Distributing on the transaction.
Loeb & Loeb and Varnum LLP served as legal counsel for Blackford Capital. Mercantile Bank and Energy Impact Partners provided financing for the acquisition. Grant Thornton, Hilco Global and Plante Moran advised on financial and tax diligence.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.
About Empire Distributing
Empire Distributing began as a small regional hearth distributor in the 1980’s supplying a handful of independent hearth dealers with one appliance product line. From modest beginnings, our company has grown to be recognized in the Northeast as a premier distributor of both hearth and outdoor living products. Much has changed throughout our company’s 30-year history, but our dedication to providing customers with the best products and service remains constant. Our dedicated staff, humble beginnings, and desire for enriching our customers lives, drives our quest to remain a premier distributor in the hearth and outdoor living industries. To learn more about the company, visit https://www.empiredistributing.net.
Media Contact: Jackson Lin Lambert
(646) 717-4593
jlin@lambert.com
A photo accompanying this announcement is available at
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