Charlesbank Capital Partners has signed an agreement to acquire OneStopPlus Group (“OSP”), a catalog retailer and online marketplace for plus-size consumers, from PPR, a Paris-based luxury and sport & lifestyle group. “We look forward to working with OSP’s management team to continue building the leading direct-to-consumer platform focused on the needs of the plus-size customer,” said Josh Klevens, a Charlesbank Managing Director.
Charlesbank is partnering with Webster Capital on the transaction, which is expected to close in the first quarter of 2013. The OSP management team will be co-investing in the transaction.
OneStopPlus Group is a catalog and internet retailer for plus-size consumers. The company has four women’s apparel lines (Woman Within, Roaman’s, Jessica London and Fullbeauty), as well as men’s line King Size, home goods brand BrylaneHome, the OneStopPlus.com online fashion mall and a clearance apparel website. OSP carries more than 10,000 products and 70 sizes. The company is headquartered in New York (www.OneStopPlus.com).
“We believe that plus-size customers are an underserved segment of the US apparel market,” said Andrew Janower, a Charlesbank Managing Director. “OSP has strong brands, a talented management team and loyal customers, and we look forward to helping the company achieve its potential.”
Consensus Advisors acted as financial advisor and Goodwin Procter acted as legal advisor to Charlesbank and Webster in the transaction. For PPR, Peter J. Solomon Company acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor.
Charlesbank Capital Partners invests in management-led buyouts and growth capital financings, typically investing from $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm has $2 billion of capital under management and has offices in Boston and New York (www.charlesbank.com).
Webster Capital invests in branded consumer, business to business, and healthcare services companies with EBITDAs from $3 million to $15 million and transaction values less than $100 million. The firm is currently investing Webster Capital II, a $205 million fund which closed in 2007. Webster was founded in 2003 and is based in Waltham, MA (www.webstercapital.com).
“The merchandising assortment and marketing strategy at OSP resonate with plus-size customers and we look forward to helping the company continue to add to its customer base going forward,” said Donald Steiner, Managing Partner of Webster Capital.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-6-12
