McGuireWoods Advises Acacia Partners in Exit From Stake in Fabrics, Outdoor Furniture Maker

February 8, 2019

McGuireWoods served as legal counsel for Acacia Partners in its successful sale of its portfolio company, Perennials & Sutherland LLC, a Dallas-based designer and manufacturer of indoor and outdoor fabrics and rugs and luxury outdoor furniture.

Acacia Partners, an Austin, Texas-based private investment firm, invested in Perennials & Sutherland in 2016, a transaction on which McGuireWoods advised. The company grew rapidly after Acacia Partners’ significant investments in its brands, operational infrastructure and management team. Acacia Partners also made good on its promise to company founders David and Ann Sutherland to keep the company’s culture, brand integrity and product quality intact.

“We are so happy to be part of this successful outcome for our client and everyone involved,” said Tom Zahn, who led a McGuireWoods team that included Ben Hantz, Cindy Lu, Laura DeGeer, Dawn Stetter and Gerald V. Thomas II. “We congratulate Acacia Partners and are grateful for the trust they place in us.”

In addition to the transactions with Perennials & Sutherland, McGuireWoods advised Acacia Partners last year in its investment in Red River, a New Hampshire-based provider of sophisticated tech services to business. 

McGuireWoods ranked among the top five law firms for U.S. M&A deals and among the top 10 for global mid-market private equity transactions in 2018 league tables published by Bloomberg and Thomson Reuters. The firm also was honored as “Law Firm of the Year” in Mergers & Acquisitions magazine’s Mid-Market M&A Awards.