Javan Capital Partners buys The Countertop Co. (BizJournals)

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Javan Capital Partners buys The Countertop Co. (BizJournals)

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News. Discuss, Javan Capital Partners buys The Countertop Co. (BizJournals) at Consumer & Non-registered Lounge forum; Javan Capital Partners buys The Countertop Co. Washington Business Journal - by Erin Killian Staff Reporter Javan Capital Partners LLC ...

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02-20-2008, 02:13 AM	#1 (permalink)
Paper Boy Protege Join Date: Sep 2006 Location: nsraweb forum Posts: 610 Photos 0	Javan Capital Partners buys The Countertop Co. (BizJournals) Javan Capital Partners buys The Countertop Co. Washington Business Journal - by Erin Killian Staff Reporter Javan Capital Partners LLC said Tuesday it bought a 12-year-old company that sells granite countertops. It was the first acquisition for the Bethesda-based private equity firm formed in January by Artin Afsharjavan. Javan Capital Partners took control of operations of The Countertop Co. Jan. 31 and its eight locations in Virginia, Maryland and North Carolina. The Washington region locations include Alexandria, Chantilly and Rockville. A Vienna store, which was formerly at 8455-K Tyco Road, closed in January. Financial terms of the deal were not disclosed. "In the current economy, realizing solid returns on investment from the capital markets is tough," said Afsharjavan in a statement. "But, there are still great opportunities for long-term gains through direct investment in small companies with strong business models that offer growth potential." Afsharjavan's spokeswoman Ellie Whims said Afsharjavan plans to buy similar companies in the region that sell granite countertops and incorporate them into the Countertop brand. This was Afsharjavan's first acquisition, but not his first offer for a medium to small businesses in the Washington market. Afsharjavan also made an $8 million offer to buy Moby Dick House of Kabob in January. At the time, Moby Dick founder Mike Daryoush, who has two partners in the business, Mohammad Javan and Darya Kevani, said the group was not looking to sell. Afsharjavan also owns the Persian restaurant Javan, which he opened in Bethesda in September 2007.