Tech Investment Company Proposes Acquisition Of Flexsteel

A technology investment company proposes acquiring Dubuque-headquartered Flexsteel Industries with plans to take the company’s furniture sales “digital first.” The Indiana-based private equity firm CSC Generation Holdings Inc. released a letter to Flexsteel’s board of directors outlining CSC’s proposal for the acquisition. In the letter, CSC Founder, Chairman and CEO Justin Yoshimura wrote that his company is a “meaningful shareholder” of Flexsteel that submitted a previous proposal to take over ownership of Flexsteel. Yoshimura expressed disappointment that the Board of Directors of Flexsteel did not respond to the acquisition proposal. The letter indicates that CSC could fully fund the acquisition with cash on hand and through the company’s existing lenders.