Huntington Capital completes investment in RDS
Huntington Capital Fund II, LP (“Huntington”), a San Diego based lower-middle market focused private equity mezzanine fund, is pleased to announce its investment in L.A.R.K Industries, Inc. dba Residential Design Services (“RDS”), an Anaheim, California based company. The financing was done in conjunction with DBI Capital, a Carlsbad, CA based private equity group that will also provide operational support to RDS. The purpose of the financing was to provide growth capital and recapitalize the Company.
Founded in 1988, Residential Design Services is one of the top outsourced interior design and installation service provider’s for home builders in Southern California. RDS has built extensive relationships with several of the top builders in the United States and the Company’s superior quality is sought after by the top developers in Southern California. The Company works with regional and national home builders as the exclusive supplier of home upgrade furnishings.
“This is a talented team with strong operational experience that has weathered the housing downturn well and come out in a strong position to gain market share from competitors.” says Huntington Managing Partner Morgan Miller. “Huntington spent a good amount of time evaluating RDS and the feedback we continued to get from home builders and the Company’s partners consistently pointed to a quality, well respected team”
"We at RDS are excited about our new partners. We believe that the additional capital and access to capital generated by this transaction will further strengthen RDS's competitive position and will allow us to continue to provide our customers with first-rate service" noted RDS CEO Rick Scholten.
DBI Capital Principal Frank Mora stated that “We look forward to a successful relationship with RDS and Huntington. We have a tremendous amount of respect for the RDS team and look forward to building the company with them in the future.”
Residential Design Services
Founded in 1988, Residential Design Services (“RDS”) is an Anaheim, CA based leading provider of interior design centers and installation services for homebuilder’s in Southern California. The Company has grown to become a fully integrated design studio which operates six design centers that are located near major new home developments. RDS currently offers builders and home buyers a wide range of products including flooring, countertops, cabinetry, window coverings, shower doors and mirrors, granite and solid surface countertops. For more information please visit the company website at http://www.resdesign.com.
DBI Capital
DBI is a private equity investment firm that makes control investments in or acquires smaller middle-market companies principally located in Southern California. DBI generally commits $1 million to $5 million in capital to investments in management buyout and recapitalizations transactions. DBI has the capabilities to complete larger transactions in cooperation with affiliated private equity funds. For more information please visit the company website at http://www.dbicapital.com.