Sutherland Perennials Group CEO David Sutherland and president Ann Sutherland last week announced their partnership with Austin, Texas–based private investment firm Acacia Partners, which invests in middle-market companies seeking equity capital. (The firm does not have a fixed investment mandate, and only partners with family-owned or owner-operated businesses.)
“After owning the company for almost 40 years, we had a very high standard for a potential new partner,” said David Sutherland. “The Acacia team has a very different approach from traditional investment groups, and it aligned perfectly with our company’s culture. We wanted to make sure we didn’t change the culture that we have fostered, which has served us so well. We look forward to continuing to operate and manage the business with a significant ownership level while utilizing the resources that Acacia will bring to the table.”
Sutherland Perennials Group includes Perennials Fabrics, known for luxury performance fabrics; Sutherland Furniture, an outdoor luxury furniture brand that partners with designers; and David Sutherland Showroom, which includes eight full-service, multi-line showrooms throughout the U.S.
“Acacia is excited to partner with David and Ann Sutherland to help continue the company’s current growth trajectory. They have built three world-renowned brands with sterling reputations in their category. We believe their products will continue to resonate with new customers, and we expect this to drive growth for many years to come,” Brad Johl, Jeff Sokol and Greg Maletsky, partners of Acacia, said in a shared statement. “We could not be more excited about this collaboration, and we look forward to an even more successful future.”