Bodman Advises Art Van Elslander in Sale of Art Van, Inc.
Bodman team was led by Carrie Leahy and David P. Larsen
Bodman PLC represented Art Van Elslander and his wholly-owned business, iconic Detroit furniture retailer Art Van, Inc., in the sale of the company and its subsidiaries to private equity firm Thomas H. Lee Partners of Boston.
Van Elslander founded Art Van, Inc. 58 years ago with a single small store in Detroit. Today, the Warren, Michigan-based conglomerate operates more than 100 facilities located in five states. The company consists of Art Van Furniture, mattress retailers Mattress World and Art Van PureSleep, and an associated manufacturing business.
Thomas H. Lee Partners holds investments in a variety of sectors, including business and finance; consumer and healthcare; and media, information services, and technology.
The Bodman transaction team was led by Carrie Leahy and David P. Larsen.
RBC Capital Markets acted as financial advisor to Art Van, Inc. in connection with the transaction. Goldman, Sachs & Co. acted as financial advisor to Thomas H. Lee Partners.