Comvest Partners has acquired Robbins Brothers, a specialty jewelry store chain focused on engagement rings.
“We are extremely excited about our investment in Robbins Brothers,” said Tom Clark, Managing Director at Comvest Partners. “Robbins Brothers has built a great brand, has an incredibly strong team of people and is a truly differentiated concept. We look forward to working with management to build on the company’s success.”
Robbins Brothers is a specialty jewelry store chain that retails private label and designer engagement rings. The company has 14 stores in Southern California, Texas and Washington. Robbins Brothers was founded in 1920 and is headquartered near Los Angeles in Azusa, CA (www.robbinsbrothers.com).
The Comvest Group provides debt and equity to middle-market companies. For debt investments the firm will invest from $2 million to $20 million per transaction in companies with $10 million to $200 million of revenue that have positive or negative EBITDA. For equity investments the firm will invest from $10 million to $50 million per transaction in companies with $15 million to $500 million of revenue that have positive or negative EBITDA. Since 2000, Comvest has invested more than $1.7 billion of capital in over 120 public and private companies worldwide. The firm is based in West Palm Beach (www.comvest.com).
“I am delighted to have Comvest as our new investors. They further solidify our growth plans by bringing not just capital, but a level of commitment, retail expertise and growth experience that will help us to continue building a great company and expand our ability to deliver unparalleled experiences for bridal and engagement ring customers,” said Andy Heyneman, President and CEO for Robbins Brothers.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-24-14
