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Consumer
2025

Gainline Capital Partners has sold Southern Motion to Man Wah Holdings Limited

Southern Motion

Founded in 1996, Southern Motion established itself as a leading American manufacturer that excels in producing high-quality, mass-custom upholstered furniture with an emphasis on comfort and style. The company serves a broad and diverse customer base, catering to the top 100 furniture retailers and more than 1,100 active clients across the nation, all supported by a dedicated national sales force.

The Deal

Lincoln International conducted a focused sell-side process aimed at strategic global buyers seeking to acquire a U.S.-based manufacturing competitor in response to the changing tariff landscape. The acquisition markedly bolsters Man Wah’s capabilities, reinforcing its global leadership in seating while establishing a robust domestic manufacturing operation. This integrated platform empowers Man Wah to deliver enhanced speed, flexibility and reliability to U.S. retailers across all channels.

Our Perspective

Matthew Merkel, Director in Lincoln International’s Consumer Group, commented, “We are pleased to have successfully assisted our client in exploring and executing strategic opportunities within the tariff landscape for the sale of their business, despite the current challenges in the sector. This transaction underscores Lincoln’s expertise in the home and furnishings space and its adeptness in navigating global market dynamics.”

Gainline Capital Partners, LP

Founded in 2015, Gainline Capital Partners is a private equity firm based in Stamford, Connecticut. The firm prefers to invest through means of buyouts, recapitalization, carveout, corporate divestiture, growth and expansion and add-on acquisitions. The firm prefers to invest in business services, niche manufacturing, consumer, logistics and transportation services sectors in North America.

Man Wah Holdings Limited

Headquartered in Hong Kong, Man Wah Holdings was founded in 1992 and is now one of the world’s largest producers of home furnishings. With offices and production facilities throughout the world, the company is a global leader in the design and production of motion and stationary sofas, recliners, accent chairs and home theater seating.

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Perspectives

Connect with a Senior Team Member

Meet our Senior Team

Headshot of Christopher Stradling
My passion is positioning high-quality businesses for maximum valuation. I thoroughly enjoy partnering with business owners to reach their goals through life-changing transactions.

Christopher Stradling

Managing Director & Co-Head of Consumer

Chicago

Headshot of Yingpei Song
My goal is to maintain long-term mutually respectful relationships with clients, while understanding their needs and cultural values. I seek to provide thoughtful solutions and service with high quality advisory services.

Yingpei Song

Managing Director & Head of China

Beijing

Headshot of Matthew Merkel
I am inspired by helping my clients through every step of a transaction in order to achieve outlier results that exceed their objectives.

Matthew Merkel

Director

Los Angeles

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