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Excelsior Capital Partners LLC in Newport Beach formed two new entities to acquire Artissimo Designs, a manufacturer of wall decoration products.
Terms weren’t disclosed.
The investment firm created Artissimo Designs LLC, to be based in El Segundo, and Artissimo Designs Canada Inc. as a subsidiary that will operate from Montreal.
Artissimo Designs makes framed and unframed art, wood plaques, sculptures and other products. It bills itself as a “leading supplier” of wall decor products “to big box retailers and department stores in North America.”
Excelsior specializes in distressed debt, specialty lending and “special situations” in which companies are facing challenges but still “have promising fundamentals and a clear value proposition.”
It’s headed by managing partners Ravi Bhagavatula and Mark Ziegler and has another office in Denver.