recognized leader in the decorative “fine furniture” electric fireplace and bathroom vanity
products with nearly $100 million in revenues, today announced that it has secured a
sizable equity investment from Trivest Partners, L.P. (“Trivest”)
Trivest will acquire the majority stake from Twin-Star’s founders Mark Asofsky and
Michael D. Horvitz who will retain a significant ownership interest in the Company and
will continue to lead Twin-Star’s daily operations.
Twin-Star’s award winning products, marketed under the ChimneyFreeTM,
ClassicFlameTM, AntiquaTM, and Tresanti TM brand names are sold to a diverse base of
retailers and distributors including retail home centers, wholesale clubs, hardware
stores, various specialty retailers and distributors in the furniture, “hearth and home” and
rent-to-own segments, as well as contractors in the building, kitchen and bath channels
of distribution. Twin-Star’s line of electric fireplaces offers consumers a “green”
alternative to traditional wood and gas fireplaces in terms of energy efficiency, safety
Michael D. Horvitz, Twin-Star’s President stated, “As we look to expand the breadth of
the product line and distribution base, Trivest’s considerable experience in the consumer
products arena should benefit our employees, distribution network and retail partners.”
In addition, “Aligning ourselves with a proven financial partner such as Trivest provides a
solid foundation to sustain our growth well into the future” said Mark Asofsky, Twin-Star
founder and Senior Vice President.
Troy D. Templeton, Trivest’s Managing Partner stated, “The Twin-Star transaction is
consistent with Trivest’s long-standing investment strategy to acquire well run, founderowned
businesses. Twin-Star has exhibited a number of similar characteristics to other
successful Trivest consumer product investments including Aero Products International,
Directed Electronics and Banana Boat. In addition, Trivest viewed Twin-Star’s sourcing
and procurement operations in China among the most sophisticated and scalable it has
seen over the Firm’s 25 years history.”
Trivest Partners, L.P., a private investment firm, is a leading provider of equity for middle
market corporate acquisitions, recapitalizations and growth capital financings. Since its
founding in 1981, Trivest has sponsored more than 130 acquisitions and
recapitalizations, totaling more than $3.0 billion in value. The Twin-Star transaction
represents Trivest’s third platform investment over the past six months.
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Twin-Star International manufactures ClassicFlame Electric Fireplaces, Tresanti Media Consoles, Tresanti Media Cabinets, Tresanti Refrigerated Wine Cabinets, Tresanti Wine Coolers and Wine Bars , Duraflame Electric Stoves, ChimneyFree Electric Fireplaces, and Antiqua Bath Vanities. Each electric fireplace, electric stove, media cabinet, media console, refrigerated wine cabinet, and bath vanity is meticulously crafted using the finest materials, including solid hard woods and wood veneers. Quality craftsmanship and cutting edge technology are essential ingredients in the success of ClassicFlame, Tresanti, Duraflame, ChimneyFree and Antiqua home furnishings.