Nantucket Tents, Placesetters, And Soiree Floral Sold To LeFort Interests

Three island businesses that are among the biggest names in Nantucket's events industry have been sold to LeFort Interests, a limited liability company registered in Florida and led by Alec LeFort.

Nantucket Tents, founded by Ande Grennan, along with Placesetters Inc., and Dawn Kelly's Soiree Floral, were all acquired in June by LeFort Interests for an undisclosed sum.

The deal, which also included Grennan's Sperry Tents of Florida, was announced last week by island resident Joe Huber, of Briggs Capital, who brought the three companies to the market and represented the sellers - Grennan, Kelly, and Nantucket Tents co-owner Adam Weldy.

"It’s been a great run for 25 years and it was time to transition to a new buyer who will continue our growth pattern,” Grennan said in a statement. “Dawn and I are looking forward to working with Alec to ensure a seamless transition over the course of the 2024 season. Additionally, my partner Adam Weldy along with the entire senior leadership teams have decided to stay with the new company moving forward."

Nantucket Tents, formally known as Sperry Tents of Nantucket, was founded in 1999 providing tents for weddings, parties, and special events on the island. Sperry Tents of Nantucket was the first of its kind to open an official Sperry Tent territory outside of the original Sperry Tents headquarters in Marion, Massachusetts. As the business grew, Grennan teamed up with Weldy as a partner in 2009 and together they purchased Chase Canopies, which led to what is known today as Nantucket Tents.

“We are looking forward to expanding upon the fantastic foundation Ande, Dawn and Adam have built over the years and continue to serve the island’s events for years to come.” said LeFort in a statement. “We see great upside potential through streamlined operations across all four businesses to provide an end-to-end solution and enhance the customer experience.”

Huber, a partner of the Boston-based mergers and acquisition firm Briggs Capital which helped seal the deal, is a year-round island resident in Quidnet. He added additional context regarding the sale of the three companies.

“Alec LeFort has moved to the island and will be hands-on with growing what Ande, Dawn and Adam have established” Huber said. “Key to working with the LeFort family was their knowledge and experience with Nantucket - they represented the ideal buyers.

“Nantucket island businesses are booming and are garnering the attention of mainstream buyers from across the country," Huber added. “Over the years on-island businesses have experienced tremendous growth and are now being pursued by strategic buyers, family offices, and private equity firms alike. There is a definitive 'Nantucket Factor' in selling island businesses, a unique combination of a company’s value and location on a beautiful island."