CANADA - Novacap, one of Canada’s leading private equity firms, announce that Bestar, one of its portfolio companies and a manufacturer of ready-to-assemble (RTA) furniture, has acquired Bush Industries, a leading American manufacturer of case goods and RTA furniture for the office and home.

The two companies have over 130 years of combined history in the RTA furniture industry and consolidated sales of approximately USD 200 million.

The companies share some customers across the North American market and will leverage each other's strengths to continue and accelerate their current growth.

Together, the companies will provide a large and growing product offering across several categories, the industry's leading quick shipment and delivery capabilities, and an expansive team of e-Commerce marketing and sales specialists.

The combined companies will have a workforce of over 600 employees, including more than 200 in Canada. The headquarters of the Bestar-Bush company will be located in Sherbrooke, Québec, Canada.

Bestar, with manufacturing facilities in Lac-Mégantic and Sherbrooke, Québec, is a designer, manufacturer, distributor and online seller of commercial office, home office, storage, bedroom, tables and garage storage furniture across North America. The company was founded in 1948.

Bush Industries’ corporate headquarters and U.S. manufacturing operations are located in Jamestown, New York, with additional facilities in Pennsylvania, California and China.

The company designs, produces and distributes home and commercial office, entertainment, bedroom, storage, seating, occasional and entry way furniture. Bush Industries was founded in 1959.