Sentinel Capital Partners has acquired cabi, a direct sales marketer of designer ready-to-wear women’s apparel, from Irving Place Capital and J.H. Whitney & Co. which had acquired the company from its founding investors in 2012.
cabi, also known as Carol Anderson by invitation, is one of the largest social-selling apparel companies. The company sells affordably-priced designer clothing through a network of approximately 3,500 independent stylists who conduct private shows in the homes of more than 78,000 hostesses. cabi is led by CEO Lynne Coté who joined the company in July of 2013. The company was founded in 2002 by clothing designer Carol Anderson and 11 other investors and is headquartered in Los Angeles (www.cabionline.com).
“We are very excited about our investment in cabi,” said Jim Coady, a Partner at Sentinel. “Its unique business model has a demonstrated ability and consistent record of generating strong growth, and cabi’s value proposition to its network of stylists, hostesses, and clients is one of the most compelling we have seen.”
Sentinel Capital Partners invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. Sentinel Capital Partners is headquartered in New York (www.sentinelpartners.com).
“As consumer behavior shifts away from traditional retail environments, we feel that cabi is revolutionizing the shopping experience for women,” said Ms. Coté. “Our entrepreneurial culture, growing base of highly-trained, committed, and close-knit stylists, and distinctive home show experience are the foundation of our value proposition. Our partnership with Sentinel will help drive cabi’s next level of growth.”
Irving Place invests in buyouts, recapitalizations and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments. Since its formation in 1997, Irving Place Capital has been an investor in 60 companies and manages over $4 billion, including its current $2.7 billion institutional fund. The firm is based in New York (www.irvingplacecapital.com).
J.H. Whitney invests in small and middle market companies that are active in the consumer, healthcare, specialty manufacturing, and business services sectors. The firm was founded in 1946 and is based in New Canaan, CT (www.whitney.com).
© 2017 Private Equity Professional | March 2, 2017
