USA: Investor Buys Controlling Interest of Recycler and Furniture Maker

The U.S.-based Woodbridge International, a global mergers and acquisitions firm, has announced the sale of a controlling interest in its client, Casual Living Unlimited, LLC and its affiliate Trigon Plastics, to Argosy Private Equity.

Founded in 2004, Casual Living is headquartered in New Holland, Pennsylvania and is a manufacturer of high-end 100 percent recycled poly-resin outdoor furniture and accessories. The company markets its collection of products throughout the U.S. and in parts of Europe under the brand name “Breezesta”.

Trigon Plastics, which is located in Newmanstown, Pennsylvania, recycles post-consumer plastics and manufactures the poly-lumber used in the production of Casual Living furniture. Jim Allgyer, the founder of both businesses, will remain with the company and serve as a board member post-closing.

According to the information, Argosy Private Equity, part of Argosy Capital, invests in lower-middle market U.S. companies in a variety of industries.

GR32016