NEW YORK--(BUSINESS WIRE)--RugsUSA, a leading e-commerce provider of area rugs and home dcor products, announced today that Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, has signed a definitive agreement to make a growth investment in the business. Key Principal: Koorosh Yaraghi See more contacts Industry: Rugs. Standing, (left to right), are Michael, Darius and Arash; seated are Cyrus and Ahmad. & Treasurer. Comvest first partnered with Rugs USA founder Koorosh Yaraghi in 2018 to invest in the leading e-commerce retailer of area rugs and other home dcor products. The oldest executive at Kimball International, Inc. is R. Gregory Kincer, 63, who is the Exec. dzacchei@sloanepr.com and ksylvester@sloanepr.com, Comvest Partners Together, we made meaningful infrastructure investments that further strengthened Rugs USAs leadership position., Rugs USA marks another successful partnership with a founder- and family-owned business for Comvest, added Kevin LaHatte, Partner, at Comvest. Comvest Partners. Newly established in New York, Arash Yaraghi focused on sales (left). Its a design company, a manufacturer on three continents, a wholesaler and a high-tech logistics company, with 1.5 million square feet of warehouse space. Comvests investments in the business, along with its operational support and genuine partnership in pursuing our mission, helped Rugs USA successfully execute many key initiatives in a relatively short time.. Five passionate guys can be very productive! The New York City-based company curates approximately 20,000 products to suit every design need and budget, offering a broad in-stock selection, an engaging site shopping experience, and a seamless fulfillment experience that make decorating enjoyable, easy and affordable. Comvests investments in the business, along with its operational support and genuine partnership in pursuing our mission, helped Rugs USA successfully execute many key initiatives in a relatively short time.. I'm proud of the growth our team has achieved and believe Comvest is the ideal partner to support our future growth initiatives. I follow a lot of dogs, designers and travel accounts, which is probably where the algorithm got me, said Ms. Gil Marshall, who is also in her early forties. Case Details Parties Documents Dockets Case Details Case Number: *******2019 Filing Date: 08/05/2019 The Companys expansive selection, compelling website shopping experience, leading value, and rapid fulfillment create a seamless buying experience for the customer. Offer not vaild on all brands. Loosely inspired by . Additionally, Koorosh Yaraghi has had 1 past job as the President & Founder at Rugs USA. The estimated Net Worth of Koorosh Sharghi is at least $205 Thousand dollars as of 30 June 2022. Two of us were in New York when the Iranian revolution broke out, Yaraghi continues. Antique furniture was his passion, and he had a gallery before he joined the rug business.. Barclays, Jefferies Finance LLC, Deutsche Bank and Stifel provided committed debt financing for this transaction. . Safavieh was founded in Isfahan, a city famous for stone bridges and other Persian medieval architecture. Antique furniture was his passion, and he had a gallery before he joined the rug business.. CRANBURY, N.J.-- Online area rug e-tailer RugsUSA's founder Koorosh Yaraghi landed an investment from private equity player Comvest Partners as the retailer marks its 20th anniversary,Yaraghi said of the just-announced deal. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. "This is an exciting inflection point for RugsUSA. Based on our analysis, your home is worth: Looking to sell? That includes Jack Taylor of Enterprise Rent-A-Car. It all began in Isfahan, the Persian city that reached its cultural zenith in, the 16th century under the Safavid dynasty. Ahmad poses in the first New York showroom (right). These last years of growth have been extraordinary, said Mr. Yaraghi. Many are working at increasing their fortunes. Our father, Hamid, entered the business by a different route. Cyrus Yaraghi has been working as a Vice President at SAFAVIEH for 20 years. Evercore and Financo | Raymond James acted as financial advisors, and McDermott Will & Emery LLP provided legal representation to Rugs USA. Koorosh works at Rugs Usa as Founder & Chairman. It all began in Isfahan, the Persian city that reached its cultural zenith inthe 16th century under the Safavid dynasty. A few members of my group chat. The growth of our home furnishings business has been meteoric. View Koorosh Yaraghi's record in New York, NY including current phone number, address, relatives, background check report, and property record with Whitepages. But its also designed to be discreet enough to blend in with the furniture and take the punishment of kids and pets. I call it The Rug. What makes Berber rugs from all 17 tribes so special is their lack of symmetry, he said. We excluded any assets irrevocably pledged to charitable foundations. The New York City-based company curates approximately 20,000 products to suit every design need and budget, offering a broad in-stock selection, an engaging site shopping experience, and a seamless fulfillment experience that make decorating enjoyable, easy and affordable. They are worth $152 billion, $63 billion more than the second richest family, headed by the politically active and often controversial Koch brothers. Kimball International executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. Prior to joining the Company, Mr. Sharghi led the centralization of the global marketing function at Radio Systems Corporation, a pet products manufacturing company, as the Head of Global Marketing from April 2018 until March 2019. And the best part of all, documents in their CrowdSourced Library are FREE. rugamerica@yahoo.com is Koorosh's mailing address Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the United States. Comvest will remain a significant investor in the business. Today, Comvest's funds have over $3.1 billion of assets under management. They're collectively worth $1.2 trillion. Comvest Partners Koorosh Yaraghi is the Founder & Chairman at Rugs USA. As a result of Comvests partnership, Rugs USA improved our online customer experience, entered new channels, and expanded our offering. (Note: We left out self-made entrepreneurs who founded their companies and already appear with their nuclear family on our Forbes 400. -- . In addition, Digital Fuel Capital, an e-commerce private equity firm led by Carson Biederman, and Bruce Crain, an experienced consumer products executive who is also an executive partner at Comvest, both co-investors of the deal, will work alongside Comvest as operating partners, according to Comvest, a private equity firm based in West Palm Beach, Florida. Over the last 8 years, insiders at Kimball International have traded over $2,408,709 worth of Kimball International stock and bought 60,449 units worth $792,646 Available only for customers using Safavieh's Design Service. There are a million Moroccan Berber knockoffs but like the Amazon coat before it one particular brand and pattern is winning. Koorosh Yaraghi attended New York University. Today, Comvest Partners has approximately $5.4 billion in assets under management. They wanted to travel, see the world, and introduce their two young children to different cultures. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. Koorosh graduated from New York University in 1994 and is currently based in New York City, United States. We make, collect and curate beautiful rugs and furniture for every taste and budget. Families needed a combined net worth of $1 billion to make the cut. Rugs USA Founder & Chairman Jan 2021. Since launching in 1998, RugsUSA has been dedicated to helping customers turn their houses into homes, offering a stunning array of rug styles, materials and sizes to suit every design need and budget. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. Edit Jobs Section. So when a teaching opportunity opened up in Hong Kong for Mr. Best, 44, the family left their Philadelphia rowhouse behind. The more you look at it, the more it starts to evolve. Owner: yaraghi arash & maryam Total Market Value: $1,276,000 Sale Price: $681,500 +Edit Past Address Cleft Rd, MILL NECK, NY 11765 View Address Property Lot Size: 41643 SF Owner: yaraghi ahmad & yaraghi arash Total Market Value: $67,290 +Edit Current Address 10*** **** Rd, MILL NECK, NY 11765-1004 View Address Year Built: 1922 Baths: 10.00 The agent should be in touch with your shortly. Its made to be bought and then disposed of., Koorosh Yaraghi, the founder and president of Rugs USA, unsurprisingly, had a different take. Koorosh Yaraghi Work Experience and Education According to ZoomInfo records, Koorosh Yaraghi's professional experience began in 1997. Comvest will remain a significant investor in the business. Rugs USA adds to Comvests strong track record and expertise in driving growth via investments in people, processes, infrastructure, and systems.. He also held a variety of senior strategy and operations leadership roles at Newell, where he served as Director of Marketing Operations and Strategy from March 2016 until April 2018 and Senior Manager of Marketing Operations from June 2014 until March 2016. Required fields are marked *. And now a fourth generation, equally passionate, is learning the business. How did Safavieh reach the U.S.? Today, Comvest Partners has approximately $5.4 billion in assets under management. We are thrilled to have Francisco Partners as a strategic partner, said Vidya Jwala, CEO of RugsUSA. RugsUSA is an industry leader poised for continued success in the home dcor category domestically and internationally., We partnered with Founder Koorosh Yaraghi to successfully scale the infrastructure, systems and processes of the company, added Kevin LaHatte, Partner at Comvest Partners. WEST PALM BEACH, Fla., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Comvest Partners (Comvest), an operationally focused middle-market private investment firm, announced that it has completed the sale of a majority interest in Rugs USA to Francisco Partners, a global technology investment firm. Co-op | NYC Co-op Apartment Sales . This story appears in the July 20, 2014 issue of Forbes. 185 dynasties with fortunes of at least $1 billion, Americas Richest Families: An eBook From Forbes. It helps that there are five of us brothers. The company that came to be called Safavieh,a nod to the Safavid dynasty, was started in Isfahan by our grandfather, Kazem Yaraghi, explains Ahmad Yaraghi, one of five brothers who own and operate the firm. You may opt-out by. The most recent stock trade was executed by Christopher M Robison on 31 December 2022, trading 8,819 units of KBAL stock currently worth $108,562. Terms of the transaction were not disclosed. I own one. Printer Friendly View Address: 286 Prospect Plains Rd Cranbury, NJ, 08512-3625 United States See . The five Yaraghi brothers own and operate Safavieh, the business started by their grandfather 100 years ago. (Photo: Gilles Mingasson/Getty Images), Brazil Bounces Back With A Slew Of New Billionaires, Fortune Magazine's New Owner Is Member Of Thailand's Richest Family, Southeast Asia's Richest Woman Signs $6.5 Billion Deal For 50 Airbus Jets, The Indonesian Tycoons Behind Lion Air, Whose Plane Crashed Off Jakarta on Monday, How This Video Gaming Billionaire Invests His More Than $2 Billion, LinkedIn Cofounder Reid Hoffman On His Billion-Dollar Impact Investing Bet, Jeff Bezos Is $1.8 Billion Richer As Amazon's Market Cap Briefly Hits $1 Trillion, The $4 Billion Crypto Billionaire Who No One Has Heard Of. You know the names already. The largest trade he's ever made was exercising 6,225 units of Kimball International stock on 30 June 2021 worth over $76,070. Koorosh Yaraghi, Founder of RugsUSA, and Comvest Partners will retain a minority stake in RugsUSA. About Rugs USAA pioneering e-commerce leader in the area rug industry since 1998, Rugs USA is dedicated to bringing consumers high-quality area rugs and other home decor products from around the world at attractive values. Wal-Mart Stores Since its founding in 2000, Comvest has invested over $3.3 billion in over 165 companies. Comvest will remain a significant. In the Retail industry, Koorosh Yaraghi has 39,930 colleagues in 2,610 companies located in 86 countries.
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