Daniel’s Jewelers, founded in 1948 as a family-operated business, has grown from a single store to 73 locations throughout Los Angeles, the Inland Empire, San Diego, Orange Country, Ventura, the Central Valley and the Central Coast. Daniel’s will continue to be led by David Sherwood, a member of the founding family and the Company’s Chief Executive Officer since 2007. The company is based in Culver City, CA (www.danielsjewelers.com).
“Daniel’s Jewelers has established an attractive market position over the past 66 years with a well-respected brand, strong customer loyalty and compelling value proposition to its customers,” said Luis Zaldivar, a Managing Director of Palladium. “We look forward to working with the Daniel’s leadership team on a range of new initiatives to support the growth of the Company, including opening new locations and pursuing strategic acquisitions, both inside and outside of California.”
“We are delighted to partner with Palladium, a firm with extensive expertise and many years of experience helping founder-owned businesses reach the next level of growth,” said Mr. Sherwood. “With this partnership in place, we are well-positioned to continue offering the strong service and convenient financing options upon which my grandparents, father and uncle built the company as we expand our footprint into new markets.”
Palladium Equity Partners targets investments in business services companies as well as in financial services, consumer/retail, food/restaurants, healthcare, industrial, and media businesses. Palladium has a focus on companies that operate in the US Hispanic market. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, LP with $1.1 billion of capital, significantly above the firm’s target. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The firm is based in New York (www.palladiumequity.com).
Daniel’s Jewelers was advised by The Sage Group.
2014 PEPD • Private Equity’s Leading News Magazine • 11-25-14