Webster Capital has acquired Matilda Jane Clothing, a designer and provider of specialty apparel and accessories for girls, babies, tweens and women, from CID Capital which acquired the company in July 2012.
Matilda Jane Clothing distributes its products through a network of “Trunk Keepers” that sell through in-home events in all 50 states. The company’s clothing uses a whimsical approach to texture, pattern, and color that results in designs that are youthful, playful, and expressive. The company was founded in 2002 by Denise DeMarchis (she passed away in June 2015) and is based in Indianapolis (www.matildajaneclothing.com).
“We knew from the beginning of our discussions that we wanted to work with the Webster Capital team, including Don Steiner, Doug Williams and Alicia Alexander,” said Jeff Blade, CEO of Matilda Jane. “They have an impressive track record of partnering with consumer growth companies to unlock their potential, and we believe Matilda Jane will benefit greatly from Webster’s perspective, expertise, strategic guidance and contact network as we continue our long-term growth as a successful, sustainable company.”
“Webster Capital is excited to partner with Matilda Jane. We have great respect for the brand, the management team and the Trunk Keeper network. Together, we will achieve the next level of growth for Matilda Jane as it continues to provide mothers and daughters with beautiful products and great customer service” said Donald Steiner, Managing Partner of Webster Capital.
Webster Capital invests in branded consumer, business-to-business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values from $20 million to $100 million. At present, Webster has $600 million under management and is currently investing its third fund which closed in 2014 with $400 million in capital commitments. The firm was founded in 2003 and is based in the Boston suburb of Waltham (www.webstercapital.com).
Donald Steiner and Doug Williams, Operating Partner, will serve with Jeff Blade on the Matilda Jane board. Mr. Steiner has prior experience as an investor and director at children’s apparel company Hanna Andersson and women’s clothing company Garnet Hill. Mr. Williams has been President of Polo Ralph Lauren where he was responsible for most of their product lines including Ralph Lauren Kids.
Morgan Stanley Alternative Investment Partners, Gates Capital Partners, PNC and THL Credit are providing financing to support the transaction.
CID Capital, the seller of Matilda Jane Clothing, makes majority investments in lower-middle-market companies that have revenues of at least $10 million and EBITDA of at least $3 million. Sectors of interest consumer and industrial products. The firm is based in Indianapolis (www.cidcap.com).
© 2017 Private Equity Professional | May 5, 2017
