January 13, 2016— Furniture Today,
INVESTMENT FIRM, MANAGEMENT RECAPITALIZE CORSICANA BEDDING
NEW YORK – Long Point Capital, an investment firm with offices here and in Michigan, said it has partnered with management to recapitalize Corsicana Bedding, a Texas-based private label mattress manufacturer.
Long Point also announced the hiring of Mark Kuchenrither as Corsicana’s CEO. He has experience at a number of companies in his 30-year career. Most recently, he was CEO of EZCORP, a publicly-traded operator of pawn shops in the United States and Mexico.
“The capital and expertise our new partners bring to bear for Corsicana will be instrumental in our company’s next phase of growth and there is a tremendous amount of excitement for the future as Mark succeeds me as the CEO,” said Carroll Moran, the company’s former majority owner and CEO. “Mark brings a complementary skill set that is an important part of my desire to continue to build Corsicana into a world class organization.”
Moran remains a Corsicana shareholder and chairman of the board of directors.
Richmond, Va.-based Mann, Armistead and Epperson were advisors to Corsicana in the transaction.