SouthWorth Capital Management, a Memphis-based family office specializing in lower middle market investments, recently announced the acquisition of American Furniture Manufacturing (AFM) and its family of companies for an undisclosed sum. The transaction pairs SouthWorth’s operational expertise with AFM’s more than 45 years of experience manufacturing upholstered residential furniture for the American consumer.
Headquartered in Ecru, AFM is a vertically integrated manufacturer focused on upholstered, residential furniture, including leather offerings designed for high-volume retail environments. The company operates across two distinct product tiers, Delta and Premier, allowing retail partners to offer multiple price points within their promotional packages while maintaining consistent quality and reliable supply. The company was founded by the late Gerald Washington in 1988.
AFM builds upholstered, residential furniture, including leather offerings designed for high-volume retail environments. The company operates two distinct product tiers, Delta and Premier, allowing retailers to sell price points within their promotional packages.
American employs more than 650 people.
Through its subsidiaries Peak Living, Independent Furniture Supply, Delta Furniture Manufacturing, and Southern Fibers, AFM controls key elements of its supply chain, from materials and foam production to hand-sewn upholstery, assembly, and logistics. Collectively, the companies operate more than 700,000 square feet of manufacturing and assembly space and employ over 650 people.
“American Furniture Manufacturing represents exactly the type of business we seek, a well-established company with strong fundamentals, experienced leadership, and significant growth potential,” said SouthWorth Capital Management Chairman and Founder, Jeff Presley. “AFM’s vertical integration, customer-agnostic positioning, and reputation for quality make it a compelling addition to our portfolio. We are excited to partner with the management team to accelerate growth and expand the company’s market reach.”