Merit Capital Partners is pleased to announce the successful exit of its Fund IV investment in Digney York Associates (“Digney” or the “Company”). Digney was sold in December 2019 to Elkay Interior Systems.
Merit made its investment in Digney in 2007 in partnership with Digney’s management shareholders. The company is a leading provider of interior renovation services to luxury, upscale and midscale hospitality clients in North America. Headquartered in the metropolitan Washington D.C. area, Digney utilizes a proprietary network of field partners and an innovative fast track method of renovating hotels to minimize revenue displacement and guest impact.
Jay Weiss, founder of the Company, commented “Merit was a terrific partner for me and the entire Digney management team. They supported the business through changing economic conditions and assisted us in expanding our market position and product offerings. They were great to work with and instrumental in our success as a business.”
Merit invested both subordinated debt and equity in its acquisition of Digney.
Merit and Digney were advised on the transaction by Bowstring Advisors, a division of Citizens Capital Markets. Please contact Evan Gallinson or Tim MacKenzie for additional information.