Steve Wybo: Art Van Furniture to be sold to private equity firm – Crain’s Detroit Business
Crain’s Detroit Business features Steve Wybo in its article titled “Art Van Furniture to be sold to private equity firm.”
“Too often in this town, we hear ‘private equity’ and think they’re going to cut costs,” said Steve Wybo, senior managing director, Conway MacKenzie Inc.
Wybo doesn’t believe Art Van’s new ownership group plans to roll it up with similar companies. Art Van brings strong market share and has been able to demonstrate growth outside of its traditional Michigan market.
“Seems to me this is probably a growth play and Thomas H. Lee … potentially will push the gas pedal down on putting capital … into a growth strategy.”