Clearlake Capital Group has purchased approximately 90% of the outstanding shares of publicly-traded Bluefly, an online retailer of designer brands, directly from the company’s principal stockholders.
Bluefly (NASDAQ: BFLY), is an online retailer of designer brands and fashion trends. In 2011, Bluefly expanded its portfolio by launching Belle & Clive, a members-only shopping destination that presents curated selections of brands via limited time sale events. The company was founded in 1998 and is based in New York (www.bluefly.com) and (www.belleandclive.com).
“Clearlake brings an outstanding team with eCommerce and financial expertise, and they are dedicated to re-energizing this business and brand at a pivotal time in our sector. With this transaction, Bluefly will be well-capitalized and well-positioned for growth, building on its loyal following and continued strong traffic,” said Joseph Park, CEO of Bluefly.
Clearlake invests in special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments. Sectors of interest include business services; communication; consumer products and retail; defense and public safety; energy and power; healthcare; industrials; media; and technology. Clearlake was founded in 2006 and is headquartered in New York, NY (www.clearlakecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-28-13
