retail jewelry

Palladium Equity Partners has made a majority investment in Daniel’s Jewelers, a specialty jewelry retailer in California.

Daniel’s Jewelers, founded in 1948 as a family-operated business, has grown from a single store to 73 locations throughout Los Angeles, the Inland Empire, San Diego, Orange Country, Ventura, the Central Valley and the Central Coast.  Daniel’s will continue to be led by David Sherwood, a member of the founding family and the Company’s Chief Executive Officer since 2007.    The company is based in Culver City, CA (www.danielsjewelers.com).

“Daniel’s Jewelers has established an attractive market position over the past 66 years with a well-respected brand, strong customer loyalty and compelling value proposition to its customers,” said Luis Zaldivar, a Managing Director of Palladium.  “We look forward to working with the Daniel’s leadership team on a range of new initiatives to support the growth of the Company, including opening new locations and pursuing strategic acquisitions, both inside and outside of California.”

“We are delighted to partner with Palladium, a firm with extensive expertise and many years of experience helping founder-owned businesses reach the next level of growth,” said Mr. Sherwood.  “With this partnership in place, we are well-positioned to continue offering the strong service and convenient financing options upon which my grandparents, father and uncle built the company as we expand our footprint into new markets.”

Palladium Equity Partners targets investments in business services companies as well as in financial services, consumer/retail, food/restaurants, healthcare, industrial, and media businesses. Palladium has a focus on companies that operate in the US Hispanic market. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, LP with $1.1 billion of capital, significantly above the firm’s target.  Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The firm is based in New York (www.palladiumequity.com).

Daniel’s Jewelers was advised by The Sage Group.

2014 PEPD • Private Equity’s Leading News Magazine • 11-25-14

John Hardy, a luxury designer jewelry brand known for its Asian inspired designs and traditional handmade jewelry techniques, has been acquired by Catterton Partners. London-based private equity firm 3i acquired a minority equity position in John Hardy for €24 million in 2007.

John Hardy’s products are available at more than 600 retail locations across 27 countries and regions, including department stores such as Neiman Marcus, Saks Fifth Avenue, Bloomingdale’s, Harrods and Lane Crawford and stand-alone stores in Hong Kong, Jakarta and Bali.  The company was founded in 1975 by John Hardy, a designer and artist. In 2007, CEO Damien Dernoncourt along with Head Designer and Creative Director Guy Bedarida purchased the company from John Hardy. The company is headquartered in Hong Kong (www.johnhardy.com).

“Catterton is excited to partner with a differentiated brand with a strong heritage and a top-tier, multi-channel distribution footprint.  With Catterton, John Hardy will have a robust platform to enhance its already exceptional brand and accelerate its growth trajectory,” said Michael Chu, Managing Partner at Catterton.  “We are confident that John Hardy offers substantial upside through multiple paths for expansion, and look forward to working with Robert and the entire team at John Hardy to capitalize on new market opportunities and realize the company’s significant potential.”

Catterton Partners focuses exclusively on the consumer industry and invests in all major segments including food and beverage, retail and restaurants, consumer products and services, consumer health, and media and marketing services.  Catterton was founded in 1989 and has more than $4 billion in capital under management. The firm is located in Greenwich, CT (www.cpequity.com).

With this acquisition, Catterton has appointed Robert Hanson as the new Chief Executive Officer of John Hardy.  Mr. Hanson brings more than 25 years of brand development and retail experience to John Hardy, including with American Eagle Outfitters, where he served as Chief Executive Officer, and Levi Strauss, where he served as Global President of Levi’s.

Damien Dernoncourt, who has served as John Hardy’s Chief Executive Officer since 2007, will retain an equity stake in the company and has been named Non-Executive Chairman.  Guy Bedarida will continue to serve as Creative Director and Head Designer and Miles Graham will continue to serve as President and Chief Operating Officer.

“John Hardy is pleased to partner with Catterton, which will provide the support and resources to continue building our brand and accelerate our growth on an international scale,” said Mr. Dernoncourt.  “I am confident that under Robert’s leadership and together with Catterton, we will enhance our status as a leading designer of unique handmade jewelry while maintaining our company’s strong core values and luxury positioning.  I am excited to be working with Catterton, Robert, and the entire John Hardy team as we grow and build on our success.” 

2014 PEPD • Private Equity’s Leading News Magazine • 7-31-14

Comvest Partners has acquired Robbins Brothers, a specialty jewelry store chain focused on engagement rings.

“We are extremely excited about our investment in Robbins Brothers,” said Tom Clark, Managing Director at Comvest Partners. “Robbins Brothers has built a great brand, has an incredibly strong team of people and is a truly differentiated concept. We look forward to working with management to build on the company’s success.”

Robbins Brothers is a specialty jewelry store chain that retails private label and designer engagement rings. The company has 14 stores in Southern California, Texas and Washington. Robbins Brothers was founded in 1920 and is headquartered near Los Angeles in Azusa, CA (www.robbinsbrothers.com).

The Comvest Group provides debt and equity to middle-market companies. For debt investments the firm will invest from $2 million to $20 million per transaction in companies with $10 million to $200 million of revenue that have positive or negative EBITDA. For equity investments the firm will invest from $10 million to $50 million per transaction in companies with $15 million to $500 million of revenue that have positive or negative EBITDA. Since 2000, Comvest has invested more than $1.7 billion of capital in over 120 public and private companies worldwide. The firm is based in West Palm Beach (www.comvest.com).

“I am delighted to have Comvest as our new investors. They further solidify our growth plans by bringing not just capital, but a level of commitment, retail expertise and growth experience that will help us to continue building a great company and expand our ability to deliver unparalleled experiences for bridal and engagement ring customers,” said Andy Heyneman, President and CEO for Robbins Brothers.

© 2014 PEPD • Private Equity’s Leading News Magazine • 1-24-14