If you are an executive working in the commercial interiors industry and reading this story, there is a fair chance you were placed in that role by Stephen Viscusi, founder of The Viscusi Group. In his role as a recruiter over the last few decades, Viscusi has built a powerful network.
And while that knowledge and those connections certainly helps him as a recruiter, his expertise could help in a number of other ways. That’s why Viscusi is launching a new company, Viscusi Advisors, to act as a conduit between businesses in the interiors industry looking to acquire other companies and those looking to sell.
“As a result of my strong connections with owners of privately owned companies as well as major manufacturers that approached me, I discovered that there was this market — that there were companies that wanted to acquire both manufacturers and dealers,” he said. “So Viscusi Advisors is purely an advisory service. We’re not business brokers, not an investment banker, but I simply make the introduction (between private equity and the manufacturer or dealer). It’s not just as simple as making an introduction, but because we have a long-term relationship with the manufacturer or the dealer, they trust us and our thought process.”
Viscusi isn’t giving up his day job. The Viscusi Group will continue to serve the industry as an executive search firm. In fact, Viscusi said The Viscusi Group is coming off a record year. Its customer base is 50% contract interiors customers and 50% residential luxury brands. He also works equally with manufacturers and dealers.
“All across the country, everyone seems to be in a hiring mode and candidates are still controlling the market. With low unemployment it is really hard to get great people. Our sweet spot is our influence through social media. People recognize The Viscusi Group brand and how we are about to persuade a candidate to accept a job that our client may not be able to get them to say ‘yes’ to on their own,” he said.
Viscusi Advisors will rely on that industry trust and the company’s industry connections. Unlike a business broker that will work out the terms of the deal, consider Viscusi Advisors as a matchmaker. He expects to compliment, not compete with companies like Stump & Company, a North Carolina-based mergers and acquisition advisory firm with more than 50 years experience and more than 400 M&A transactions under their belt. Instead, Viscusi can help make introductions that can be handed off to firms like Stump & Company and others.
Viscusi Advisors simply makes the introductions and brings parties to the table that might not otherwise be able to connect. Viscusi is able to connect parties that might not otherwise be able to connect, which is part of the equation a business broker might not have. “I can literally pick up the phone and get an owner on the phone and get a meeting set up very quickly for a private equity company or a major manufacturer,” he said.
He said the industry is buzzing with M&A activity, especially in healthcare furniture, ancillary product makers as well as tile and stone and kitchen and bath. There are also multi-generational privately owned companies that are potentially interested in selling. Viscusi Advisors charges a flat 1.5% commission for his corporate matchmaking services.
The new division is another chapter in Viscusi’s long career in the industry, which began with dealerships in New York City and moved to Haworth’s West Michigan’s headquarters. It was at Haworth where he was urged by then-vice president of human resources Judith Becker Thomas to start a recruiting firm that focused on the office furniture industry. Haworth would become Viscusi’s first client and he placed nearly 300 people there in his first two years — and many remain with the company.
The business grew to include dealers and all of the major office furniture makers. And it continues to evolve with the office furniture industry and the latest trends in recruiting.