China-based furniture supplier seeks US public disclosure and seeks to raise $33 million
HIGH POINT – Hong Kong and China-based Decca Ltd., a supplier of wooden furniture for homes and offices, has filed for IPO in the United States
Decca hopes to raise $33 million by offering 6 million shares, each priced at around $5.50. Assuming a successful takeover, the company’s enterprise value would be around $187 million.
According to the SEC filing, Decca will invest the money as follows:
- Around 20% to develop more sales channels for individual customers globally;
- Around 20% for expanding more showrooms and distributors to increase market share in North America and Europe;
- About 20% to develop more brands and designs on products;
- About 20% for spending on potential mergers and acquisitions, which would expand its manufacturing facilities; and
- The balance to fund working capital and other general business needs
Decca specializes in high-end wood furniture for residences, hotels, offices and retail markets. Its main customer base is in Asia, but it does business in the United States and Europe. The company exhibits at High Point Market at its showroom located at 311 N. Hamilton St.
Decca Ltd. first entered the residential segment in 2013, when it formed Decca Home. Decca Home oversees the company’s primary residential brand, Boiler.
Robert Dalheim, editor of Case Goods and Global Sourcing, has been writing about the woodworking industry and business news since 2015. He graduated from Northern Illinois University with degrees in journalism and political science. Contact Bobby at [email protected] or by calling (336) 605-3815.