NEW YORK, April 27, 2017 /PRNewswire/ -- Sycamore Partners today announced that it has acquired NBG Home ("NBG"), a leading global designer, manufacturer and marketer of affordable home décor products from Kohlberg & Company, L.L.C.
NBG offers an extensive array of home décor products, including ready-made and custom framing, lighting, accent furniture, wall décor, and soft goods under a portfolio of leading brands. The company serves a wide variety of retail clients, including mass merchants, specialty stores, discount stores, home centers, warehouse clubs, and internet retailers.
"The NBG management team has built the market leader in affordable home décor through a relentless focus on serving their retail partners and end consumers," said Peter Morrow, Managing Director at Sycamore Partners. "We are excited about the opportunity to invest in an attractive niche of the consumer products industry and look forward to building NBG alongside its best-in-class management team."
"Across our numerous product categories and retail channels, NBG has maintained a distinct approach to business, relying on principles such as industry insight, innovation, and close partnerships with our customers," said Scott Slater, Chief Executive Officer of NBG Home. "We are confident that Sycamore will be the ideal partner to further develop NBG's strong culture and drive the company's future growth, both organically and through strategic acquisitions."
Seth H. Hollander, Partner of Kohlberg & Company, added, "We would like to thank Scott and all of the employees of NBG for their efforts and successes under our ownership. They transformed the business and created a truly unique company in the home décor industry."
Sawaya Segalas & Co., LLC served as financial advisor to NBG Home and Harris Williams & Co. served as financial advisor to Sycamore Partners.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $3.5 billion in capital under management. The firm's strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses. The firm's investment portfolio currently includes Belk, Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, Nine West Holdings, Talbots, The Limited and Torrid.
About Kohlberg & Company
Kohlberg & Company, L.L.C. ("Kohlberg") is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 30-year history, Kohlberg has completed 70 platform investments and over 150 add-on acquisitions, with an aggregate transaction value in excess of $10 billion. For more information, please visit www.kohlberg.com.
Contact for Sycamore Partners:
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher