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Friday, Apr 19, 2024

Valley Firm Buys Stake in Modani

Sherman Oaks-based investment firm Optimal Investment Group (OIG) announced that it acquired a controlling interest in French home decor company Modani Furniture, a furniture retailer from Maisons du Monde. Financial terms of the acquisition were not disclosed.

Modani has 17 showrooms across the country, including locations in Los Angeles, Costa Mesa and San Diego in addition to stores in Florida, Texas and New York. Founded in 2007 and based in Miami, a controlling stock in Modani was initially acquired by Maisons du Monde in 2018 in an attempt to capture more of the U.S. market.

The deal with OIG, announced Oct. 26, will reduce Maisons du Monde’s stake in Modani Furniture from 70 percent to 15 percent.

The high-end, modern furniture stores feature furnishings for bedrooms, living rooms, offices and outdoor spaces. Sofas range from $600 to nearly $7,000 while bed frames begin at $950 up to $2,500. 

“Modani is an ideal investment for OIG. The company is led by an impressive management team and offers quality furniture at reasonable prices,” OIG Managing Partner Joey Separzadeh said in a statement. “We look forward to working with management to strategically increase the showroom count and to streamline operations during the next phase of growth for Modani.”

OIG’s investments primarily focus on middle market companies in U.S.-based sectors such as manufacturing, technology, business services and consumer products. 

Other OIG investments include Mannings Truck Brokerage, branded footwear manufacturer USA Dawgs and pipeline inspection company Frontier Integrity Solutions.

Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert is a Los Angeles-based reporter covering retail, hospitality and philanthropy for the San Fernando Valley Business Journal. In addition to her current beat, she is particularly interested in criminal justice topics, health and science stories and investigative journalism. She received her AA in Humanities from Moorpark College in 2016, her BA in Communication from Cal Lutheran University in 2019 and followed it up with a MA in Specialized Journalism from USC in the summer of 2020. Through her work, Katherine aspires to help strengthen the fragile trust between members of the media and the public.

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