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Longacre Square Partners is handling private equity firm CSC Generation Holdings' unsolicited bid to acquire residential furniture maker Flexsteel Industries.
The $20.80-per-share cash offer represents a 22 percent premium over Flexsteel's $17.10 closing price on Aug. 23.
CSC believes its "digital first" strategy can spark the financial performance of Flexsteel, which earned $1.8M on $544M in revenues for the fiscal year ended June 30.
NASDAQ-traded Flexsteel chalked up a $23M profit during the 2021 period.
Flexsteel acknowledged receiving CSC's non-binding offer on Aug. 24 and promised its board would evaluate the proposal to determine the best course of action for the company and its shareholders.
FGS Global's George Sard, Jared Levy and Bryan Locke handle media for Flexsteel.
Longacre Square's Greg Marose and Kate Sylvester represent CSC.
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