Levine Leichtman Capital Partners (LLCP) has partnered with management to complete a growth capital investment in SFERRA Fine Linens. SFERRA is the first investment from Levine Leichtman Capital Partners V, LP.
SFERRA designs and produces branded, Italian luxury linen products of the highest quality for luxury retailers and hundreds of specialty boutiques. The company’s product offering consists of an assortment of bedding products which are complemented by a variety of table linens, bath items and decorative accessories. The company was founded in 1891 and is headquartered in Edison, NJ (www.sferra.com).
Paul Hooker will retain significant ownership in the company and will continue to lead SFERRA in his current role as CEO along with President Steve Schneider.
“We are excited to partner with CEO Paul Hooker, President Steve Schneider and the outstanding management team at SFERRA. The company’s tradition and over 120 year history of success has translated into one of the most respected luxury linen brands in the world,” said Lauren Leichtman, Co-Founder and CEO of LLCP. “We believe SFERRA’s focus on developing well-recognized linen products, renowned for quality, and the company’s emphasis on strong customer service has been the key to its success. We look forward to supporting the continued growth of the business.”
“I am very excited about the partnership with LLCP. We are confident that their long history of successfully investing alongside management teams in the consumer space will significantly benefit SFERRA,” said Mr. Hooker.
Levine Leichtman Capital Partners manages approximately $6.5 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).
“As the company continues to grow its business and diversify its product offerings, having a partner with the financial means and wherewithal like LLCP to help execute on SFERRA’s vision for the future was particularly attractive. I expect this partnership to contribute meaningfully to the continued growth of the SFERRA brand,” said Mr. Schneider.
Threadstone Advisors, an investment bank based in New York (www.threadstonelp.com) advised SFERRA on this transaction. Levine Leichtman Capital Partners was advised by Final Word Investments (no website found).
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-22-13
