New Water Capital partners, John Disa and Jason Neimark were recently interviewed by Brown, Gibbons, Lang & Company, Investment Bankers.
New Water Capital recently completed the recapitalization of Pride Family Brands, a manufacturer of hand-forged artisan quality aluminum outdoor furniture, the first investment for the firm’s $406 million inaugural fund which closed in 2015. The fund was oversubscribed, exceeding its original $250 million target.
John Disa and Jason Neimark, Partners at New Water Capital, discuss the new platform and opportunities in the growing outdoor living category.
What do you perceive to be the major developing trends and dynamics that are driving growth in the Home Furnishings industry, and more specifically, the Outdoor Living category?
Disa: Growth in the home furnishings industry is generally driven by a favorable economic environment. Positive macroeconomic drivers include growth in the housing market, both in new construction and existing home sales as 25 to 30 percent of all furniture spending is related to housing transactions. Much of the growth in new housing and outdoor space renovation has been in the South. In addition, there has been rise in household formation with Millennials and Gen-Xers in their family formation years.