PBC invests in Furniture Service Industries, Inc., the parent company of Stainsafe, Inc.

May 26, 2005

Palm Beach Capital today announced that it has made an investment in Furniture Service Industries, Inc., the parent company of Stainsafe, Inc., a home furnishing protection and services company. Financial terms of the transaction were not disclosed.

Stainsafe Companies, a twenty-one year old company based in Palm Beach Gardens, Florida, has grown to become one of the largest home furnishings protection and service companies in the world servicing more than 40 of the top 100 furniture retailers. This growth has been the direct result of superior customer service, aggressive marketing strategies, acquisitions and outstanding products such as Stainsafe fabric protection and leather products. With a growing staff of over 250 employees and sales representatives in the U.S. and Canada, Stainsafe is able to provide unparalleled service and support to its constantly expanding customer base.

“We are excited about the opportunity to invest in and to help build Stainsafe and enhance its position as a premier company in the furniture services industry. Having visited a number of furniture retailers and representatives, we believe that the company has an exceptional opportunity to grow and innovate,” stated James W. Harpel of Palm Beach Capital.

“Today’s announcement is great news for everyone associated with Stainsafe. Palm Beach Capital brings substantial resources and capabilities that have not been available to us previously. We have worked very hard at Stainsafe over these past several years to handle the tremendous growth in our sales and infrastructure. With the additional resources that Palm Beach Capital brings, we can continue our aggressive growth strategy. We will be expanding our production capacity while increasing investments in technology and product offerings, including a new line of premium furniture care products,” stated Steven D. Friedman, Chief Financial Officer of Stainsafe.

For more information, go to the company’s website at www.stainsafe.com.

Download PDF