CSG Partners Advises on ESOP Buyout for EVY of California

CSG Partners Advises on ESOP Buyout for EVY of California

CSG Partners served as financial advisor to Evy of California, a girls’ apparel company, in its recent sale of a minority equity interest to a newly formed Employee Stock Ownership Plan.

Evy of California owns and operates apparel and accessory brands for juniors and girls. It offers tops and dresses, tee shirts, sportswear, scents, tunic tops and legging sets, woven shirts, screen printed tees, denims, sweaters, bottoms, hoodies, related separates. The company also provides special occasion dresses, party attires, whimsical tutu dresses, fun and playful skirts, and fashion tops; and electronics, toys, stationery, and collectibles.  It offers its products through retailers, department stores, and specialty stores in the US. The company was founded in 1948 and is based in Los Angeles with additional offices in New York, Seattle; Puebla, Mexico; and Shanghai, China (www.Evy.com).

CSG Partners is a boutique investment bank specializing in ESOPs, mergers and acquisitions, and capital advisory services for middle-market companies.  The firm has closed  over 100 ESOP transactions for companies with an aggregate value exceeding $7 Billion. CSG Partners has offices in New York and San Francisco (www.csgpartners.com).

Eitan Milstein, the Managing Director of CSG Partners’ San Francisco office, led the CSG transaction team.  “The ESOP buyout was an ideal solution for everyone involved.  ESOPs provide an attractive and tax efficient liquidity strategy for the selling owners, tax incentives for the company, and exceptional benefits for the employees, who will now become owners of EVY.  CSG Partners was privileged to have advised EVY on this exciting transaction,” said Mr. Milstein.

“The ESOP buyout is a thrilling opportunity for the company and its employees. We were very fortunate to have Eitan and the CSG team lead us through the ESOP process. Their level of expertise, professionalism, and responsiveness to our needs was outstanding. We were continually impressed with their ability to navigate complex issues and to deliver everything they promised and more,” said Kurt Krieser, EVY’s CEO.

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-17-13

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