JAMESTOWN – Bush Industries is once again locally owned.

On Wednesday, the ownership group of Bush Industries announced they had purchased the company from two private equity groups. The ownership group consists of four executives at the company A. James Garde, Bush Industries chief executive officer; Neil Frederick, Bush Industries chief financial officer; Michael Evans, Bush Industries executive vice president of business development; and Steve Phelan, Bush Business Furniture executive vice president of sales.

Garde said Bush Industries had been owned by DDJ Capital of Waltham, Mass., and Silver Point Capital of Greenwich, Conn., since 2004. According to Garde, the four executives were able to acquire 100 percent of the company from the private equity firms.

”It is back to local ownership,” he said. ”We like the direction we’re going.”

Garde said there were some hurdles in acquiring the business, like selling a European subsidiary of Bush Industries the new ownership group was not interested in still owning. Garde said 65 percent of the business’ production occurs at the Jamestown location, One Mason Drive, Jamestown.

Bush Furniture produces and markets furniture for the home office and home entertainment living spaces. These products are distributed and sold by leading retailers and online partners. BBF, or Bush Business Furniture, produces and markets commercial-grade office furnishings that meet business and home market needs for value, speed and service. Bush Furniture is high-quality, ready-to-assemble furniture for the home including entertainment, storage and home office solutions. Bush Industries furniture is distributed nationally through retailers, department stores, mass merchandisers, wholesale clubs, catalog showrooms, office furniture dealers, electronics stores and e-commerce. Internationally they ship to 50 countries.

The business has warehouses in Erie, Pa., and Reno, Nev., and another production facility in China. Garde said the Bush Industries planning center is in Jamestown as well.

”This facility is sufficient to us,” he said.

Garde said the company was awarded a four-year, $900,000 state grant that is tied to employees. He said the business is looking to hire more employees in the future. There are about 250 employees at Bush Industries’ Jamestown location.

County and city officials were also at Bush Industries for the local ownership announcement. County Executive Vince Horrigan said the Chautauqua County Industrial Development Agency officials had been working with Bush employees for more than a year on the acquisition.

”Our mission is to create economic opportunity,” Horrigan said. ”Local community ties, which Bush has always had … is fantastic.”

Sam Teresi, Jamestown mayor, said even though Bush Industries is just on the outskirts of Jamestown, the business is vital to the city because many employees who work for the company live in the city and the business uses services provided by the Jamestown Board of Public Utilities.

”This is a definite step in the right direction,” Teresi said about the locally owned company that was established in 1959.

The ownership group has more than 50 years experience at Bush Industries. Garde has worked for the business since 2006; Frederick has been there since 1988; Evans has been a Bush employee since 1998; and Phelan has been at the company since 2008.