LA-based private equity firm Levine Leichtman Capital Partners said Wednesday that it has made an investment in SFERRA Fine Linens. No financial terms were disclosed. SFERRA CEO Paul Hooker will retain “significant” ownership stake in the company and continue in his position as will SFERRA President Steve Schneider. Threadstone Advisors advised SFERRA on the transaction while Final Word Investments advised LLCP. Based in Edison, NJ, SFERRA is a producer of Italian luxury linen products.
LOS ANGELES, Aug. 21, 2013 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has partnered with management to complete a growth capital investment in Edison, NJ-based SFERRA Fine Linens (“SFERRA” or the “Company”). SFERRA, founded in 1891, 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 a wide assortment of bedding products which are complemented by a variety of table linens, bath items and decorative accessories.
SFERRA is the first investment from Levine Leichtman Capital Partners V, L.P. According to Lauren Leichtman, Co-Founder and CEO of LLCP, “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. 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.”
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. Regarding the transaction, Paul Hooker commented, “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.” Steve Schneider added, “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.”
SFERRA was advised by Threadstone Advisors, LLC. LLCP was advised by Budd Goldman of Final Word Investments, LLC.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $6.5 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions II, L.P. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, Pacific World Corporation, CiCi’s Pizza, Media Arts Group, and Quizno’s. For more information about Levine Leichtman Capital Partners, please visit www.llcp.com.