Paul Hastings advised private equity firm Francisco Partners on its majority investment in RugsUSA, an online seller of area rugs and home décor products.
McDermott Will & Emery advised RugsUSA on the deal, under which another private equity firm, Comvest Partners, will sell its majority stake in the business to Francisco Partners, while keeping a minority stake.
No financial details were disclosed for the transaction, expected to close later in 2021, according to a statement.
Founded in 1998, RugsUSA says it sells and ships around 20,000 “curated” products directly to consumers via www.rugsusa.com, as well as through leading e-commerce marketplaces ...
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