Dallas — Private equity firm Lee Equity Partners has acquired majority ownership in The Living Company (TLC). TLC provides furniture, fixtures and equipment for off-campus student housing properties under the brand University Furnishings, and for hospitality and workforce housing. The Dallas-based company’s senior management team, led by CEO Paul Dougan, will continue to lead the company and will retain equity ownership in the business. Equity investor TZP will exit the business, while Platform Ventures will retain an equity stake. Financial terms of the transaction were not disclosed.
“Since our founding in 2003, TLC has been one of the fastest growing and most successful asset-light logistics providers of FF&E due to our longstanding industry experience and commitment to high quality custom solutions,” says Dougan. “Our national scale and local knowledge allow us to reliably reduce supply chain complexity and provide project completion certainty. With Lee Equity’s knowledge and experience in the hospitality services industry and asset-light real estate services, we look forward to continuing to serve the student housing and hospitality industries and expanding into additional markets.”
