A Grand Rapids-based provider of furniture protection plans and other products has been acquired by the warranty and specialty risk firm Amynta Group.
The deal for Guardsman USA LLC, which markets furniture protection plans and furniture care and repair products and services, was announced this week. According to a statement, New York-based Amynta Group’s acquisition of Guardsman will add furniture protection to the company’s existing portfolio.
Terms of the deal were undisclosed.
“Guardsman and our worldwide team of professionals are pleased to be joining a warranty leader like Amynta,” Tim Mrotek, general manager of Guardsman North America, said in a statement. “We believe our role as a leader in furniture protection brings a significant new offering to Amynta’s consumer warranty portfolio.”
Prior to the acquisition, Guardsman operated as a division of The Valspar Corp., a Minneapolis, Minn.-based manufacturer of paint and coatings, which was acquired by painting and coating manufacturer Sherwin-Williams Co. in 2017.
“With our acquisition of Guardsman, we are continuing to build Amynta’s consumer warranty segment and making a significant expansion in the furniture protection, care and repair services space,” Amynta CEO Stuart Hollander said in a statement. “With more than 100 years in the business, Guardsman has been a long-time leader and today has operations on three continents and a highly-respected brand recognition.”
Guardsman employs more than 200 people across its global footprint.
According to Hollander, the firm will look “to expand Guardsman protection plans, products and repair offerings across Amynta’s current consumer warranty base, particularly in the e-commerce channels.”
“We also believe the combined brand power of Amynta and Guardsman will give us an edge in acquiring new business in the marketplace for warranties and associated services,” he said.