Stone-Goff Partners has sold its equity stake in Thymes, a maker of branded fragrances sold to the bath & body and home fragrance markets, to Castanea Partners. Other investors in this transaction include Stanfield Capital, RCP Advisors, Northstar Mezzanine, and management.
Thymes creates curated fragrance collections for body and hand lotions, bar soaps and bubble baths, candles, fragrance mists, potpourris, reed diffusers, and refresher oils. Thymes products are sold in over 5,000 specialty retail locations in the US. The company, led by CEO Anne Sempowski Ward, was founded in 1982 and is headquartered in Minneapolis (www.thymes.com).
“To be associated with such a powerful brand was a privilege,” said Laurens Goff of Stone-Goff Partners. “We will truly miss working with Anne and her team and we are confident they will continue to grow and thrive with their extraordinary new partners.”
Stone-Goff Partners invests in lower middle market companies in the consumer, leisure, information, service, media and retail sectors. The firm is based in New York (www.stonegoff.com).
“It has been a pleasure working with Stone-Goff in growing Thymes,” said Ms. Ward. “Their experience in supporting and building middle market companies has been essential to our success. We are well positioned for the future thanks to their early commitment and belief in the Thymes brand.”
Imperial Capital and law firm Fredrikson & Byron represented both Thymes and Stone-Goff.
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-12-15
