2020 to be Acquired by Golden Gate Capital
20-20 Technologies Inc. ("2020") today announced that it has entered into a definitive agreement to be acquired by Golden Gate Capital, a leading private equity investment firm. The terms of the transactions were not disclosed.
2020 is the only global provider of applications, solutions and content for interior space planning, omni-channel retail and furniture manufacturing, delivering an end-to-end solution that offers a compelling alternative to ad hoc integration of multiple source component products. Founded in 1987, the company has developed an unmatched depth of knowledge of interior design and space planning to maintain an unbroken history of market and thought leadership. 2020 customers include many of the world's largest home improvement retailers and manufacturers, as well as tens of thousands of local, independent kitchen and bathroom dealers.
"We are delighted to welcome 2020 into our portfolio," said Rishi Chandna, a Managing Director at Golden Gate Capital. "2020 provides the mission-critical solutions that designers, dealers, retailers and manufacturers rely on to create amazing spaces for home and work. As the retail landscape accelerates toward an omni-channel approach, 2020 has the products, technology and team to build upon their position as the global leader in this market."
2020 will remain headquartered in Laval, Quebec and Westwood, Massachusetts and will continue to be led by its current senior management team, including Mark Goldstein, Chief Executive Officer.
"Our customers are the most important part of our business," said Mr. Goldstein. "We have a very serious responsibility to provide them new and better ways to help them profitably run their businesses, which requires us to always invest in ideas and technology that will keep us ahead of market trends and dynamics. The long-term strategic approach of Golden Gate Capital and the confidence they have in 2020 make them the perfect partner to inspire us toward an exciting new phase of growth in our company's evolution."
The transaction is expected to close in the second quarter of 2017. William Blair & Company LLC acted as the exclusive financial advisor to 2020. Sidley Austin is acting as legal advisor to 2020. Goldman Sachs Specialty Lending Group agreed to provide debt financing in connection with the transaction. Kirkland & Ellis and Nob Hill Law Group are serving as legal advisors to Golden Gate Capital.