Blackford Capital Helps Merge Hospitality Design Companies

Grand Rapids-based Blackford Capital has partnered with Vertically Integrated Products in Illinois to complete a merger between Vertically Integrated Products and Boston Trade International in Massachusetts. Terms of the deal were not disclosed.
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Clarion Inn Willow River in Tennessee
Blackford Capital partnered with Vertically Integrated Products to help it merge with Boston Trade International. The combined company serves as an interior design firm for the hospitality industry. Pictured is the Clarion Inn Willow River in Tennessee, which was designed by Vertically Integrated Projects. // Photo courtesy of Boston Trade Interior Solutions

Grand Rapids-based Blackford Capital has partnered with Vertically Integrated Products in Illinois to complete a merger between Vertically Integrated Products and Boston Trade International in Massachusetts. Terms of the deal were not disclosed.

Vertically Integrated Products is a nationwide interior design, procurement, and project management firm, and Boston Trade International provides interior design and fixtures, furnishings, and equipment procurement solutions. Both specialize in hospitality providers.

Boston Trade Interior Solutions, as the new company will be called, will be jointly owned by Blackford and the management teams at both firms. Both companies will maintain their leadership teams, staff, and operations. The companies will have design showrooms in the Boston, Chicago, and San Francisco areas.

“The combination of these two companies, both known for industry-leading quality and service, provides operators and hoteliers with best-in-class expertise and product sourcing, as well as cutting-edge design and value engineering that meets the needs of guests at all stages and lifestyles,” says Pravin Patel, CEO of Boston Trade International. “This increase in size allows us to offer more purchasing power and flexibility to our customers, while continuing to ensure scale and capabilities at the cutting edge of the industry.”

With the completion of the transaction, Boston Trade Interior Solutions has a national footprint for solutions including interior design, procurement, project management, and logistics services. It offers custom solutions and services designed to promote post-COVID-19 health and safety measures.

“The past year has been a time of unprecedented challenges for the hotel and hospitality industry,” says Greg Kadens, CEO of Vertically Integrated Products. “As the industry successfully moves into the next phase of recovery, we want to be the partner they look to for the best values, guest pleasing and creative interior design solutions, and the most attentive service. Merging with BTI gives us the scale, technology and team to provide those mission critical solutions that our clients will require to serve the needs of their guests.”

Dickinson Wright, Polsinelli, Honigman, and King and Spaulding served as legal advisors. Midland State Bank and Assurance Mezzanine Fund provided financing. Rush Street Capital provided capital market advisory services, and Plante Moran provided deal structure and accounting services.

Vertically Integrated Projects was founded in 1985, and Boston Trade International was founded in 1979.

Blackford Capital is a private equity investment firm that was founded in 2010. It has 11 portfolio companies.

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