In a joint release on Oct. 5, Murray Feiss Imports LLC and Sea Gull Lighting Products Inc. announced they are moving forward with plans to join forces in an effort to create what they foresee will become one of the most successful privately held lighting and home decor entities in North America. The merger, which is subject to closing conditions and terms, is scheduled to take place before the end of the year.
“Once the closing occurs, Murray Feiss and Sea Gull Lighting, including the Monte Carlo Fan Co., Light Process Co. and Royce divisions, will begin operating under a new holding company named Quality Home Brands,” says Ron Hersh, President of Murray Feiss. “The management teams at both companies will remain 100 percent intact. The only change will be that Murray Feiss will be the CEO over the Quality Home Brands umbrella.”
Recognizing the strength of the Sea Gull Lighting team, Murray Feiss principals had privately discussed the idea of partnering with the company if the opportunity should ever arise. Actual discourse about the alliance began earlier this year when Quad-C Management Inc., a private investment firm with equity in Murray Feiss, was introduced to Sea Gull Lighting through the investment firm Bear Stearns, with whom Sea Gull Lighting was working to restructure its finances.
“The combined talents are huge,” says Ace Rosenstein, Vice President of Marketing and Business Development at Sea Gull Lighting. “Murray Feiss is a 51-year-old company, and Sea Gull Lighting is now turning 87. Using similar philosophies [regarding] the personal approach to our customers and a complete hands-on connection with our distributors and showrooms, we have each managed to stand alone in our areas of expertise.”
Together, Murray Feiss and Sea Gull Lighting hope that, through shared elements such as production and logistics, Quality Home Brands will be more efficient while retaining the high-quality products, service and value that customers associate with both companies.