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1Concier Announces the Appointment of a New CFO
FORT LAUDERDALE, FL, August 8, 2023 – John R. Shumate has been appointed CFO of 1Concier, an industry-leading provider of high-quality linen products, formed through the merger of Riegel Linen, T-Y Group, and Harbor Linen. 1Concier’s mission is to be the number one linen solution for the Hospitality, Healthcare, and Commercial Laundry markets.
“With over 25 years of extensive financial experience with global Fortune 500 branded consumer products businesses, hospitality, and other industries, John is a valuable addition to the 1Concier team. His exceptional track record in driving financial success and fostering business growth has earned him a well-deserved reputation in the field,” said Tony Smith, CEO at 1Concier. “John’s proven expertise in acquisition integration, ERP implementations, and building high-performance teams will play a vital role in our continued success.”
Prior to joining 1Concier, John served as the CFO at Twin-Star International, a leading provider of indoor and outdoor home furnishings products for both B2B and B2C markets. Throughout his career, he has held senior financial leadership roles at Valley Forge Fabrics, BPI Sports, Elster Solutions, and VF Corporation.
In his new capacity as CFO at 1Concier, John is responsible for the company’s financial strategy, overseeing and leading Finance, Accounting, Treasury, Tax, Financial Planning and Analysis, and Information Technology.
“I am honored to take on this role and lead the financial direction of 1Concier. I am committed to driving the company’s growth and ensuring its continued success as a leading player in the linen solutions market,” said Shumate.
ABOUT 1CONCIER: 1Concier, owned by Lion Equity Partners, was formed from the merger of Riegel Linen, T-Y Group, and Harbor Linen – combined we strive to be the industry-leading linen solution for the Hospitality, Healthcare, and Commercial Laundry markets. Since 1838, we have been providing textile expertise to hotels, resorts, casinos, managed care facilities, and commercial laundries. Our superior product offering includes linen, terry, patient apparel, incontinence care, pool towels, robes, slippers, bedding, and table linen.
ABOUT LION EQUITY PARTNERS: Headquartered in Denver, CO, Lion Equity Partners is an operations-focused private equity firm specializing in corporate divestitures and special situations. Lion Equity’s investment strategy is centered on creating value in their portfolio companies through a combination of operational improvements, organic growth, and strategic add-on acquisitions. The firm leverages its strategic, financial, and operational expertise to build businesses that will create long-term value for all stakeholders.
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