Eureka Growth Capital has divested its stake in
Creative Co-Op, a trade brand of
Regent Holding Company, via a recapitalization backed by
Freeman Spogli & Co. No financial terms were disclosed.
Piper Jaffray was financial advisor to both Regent and Eureka on the transaction. Regent is a maker of home decor and accent products.
PHILADELPHIA, PA, November 4, 2015 – Eureka Growth Capital (“Eureka”) today announced the realization of its investment in Creative Co-Op, Inc. (“Creative”) and its subsidiaries and affiliates that are part of Regent Holding Company (collectively “Regent” or the “Company”), a leading global designer, marketer and supplier of home décor and accent products. Eureka exited its investment in Regent in a recapitalization sponsored by Freeman Spogli & Co., a private equity firm with offices in Los Angeles and New York.
Founded in 2001 by Robert and Susan Wang, Regent is a global designer and wholesaler of home décor and accent products offered through multiple channels across North America, Europe and Asia. The Company sells its products primarily under two trade brands, Creative Co-Op in the U.S. and Bloomingville in Europe. Regent’s diversified product offering includes over 8,000 SKUs across more than 30 home décor product categories. The Company distributes its products to a broad spectrum of customers representing over 30,000 retail doors globally, including over 12,000 independent and chain retailers in the U.S. and over 3,500 customers in Europe. Additionally, the Company oversees 65 authorized dealer and Company-operated stores across Asia, Europe and the Middle East under the Creative Co-Op Home brand.
“It has been a pleasure to partner with the Wang family during such an exciting time in the Company’s growth and I am confident they will continue to build on their success of the last several years as they embark on this next chapter of their growth,” said Jonathan Zimbalist, a Partner with Eureka and former Director of Regent. Jonathan Chou, a Principal with Eureka and former Director of Regent added, “Eureka worked closely with the Wang family on several initiatives including building out Regent’s infrastructure and identifying and closing the Bloomingville acquisition which were integral to the Company achieving its goal of fully-global distribution of its well-designed home décor and accent products. I look forward to following Regent’s continued growth in the years ahead.”
“The last few years were seminal years in our growth into a leading global player in the home décor and accent products industry and Eureka was the perfect partner to help us take advantage of the opportunities we had in front of us,” said Eugene Wang, CEO of Regent. Lee Wang, President of Regent and Creative, said, “Eureka was with us every step of the way as we executed on our plan. I’ve been extremely impressed with the entire team from top to bottom. We are well positioned to begin this next exciting stage of our growth and we consider ourselves extremely fortunate to have had Eureka as our partner.”
Piper Jaffray served as the exclusive financial advisor and Morgan, Lewis and Bockius acted as legal advisor to Eureka and Regent.
About Eureka Growth Capital
Eureka Growth Capital is a private equity firm targeting niche market leaders with up to $75 million in revenue. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business and minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Growth Capital can be found at www.eurekagrowth.com.
About Regent Holding Company
Regent Holding Company is a leading global designer, marketer and supplier of home décor and accent products that are sold throughout North America, Europe and Asia. The Company sells its products primarily under two trade brands, Creative Co-Op in the U.S. and Bloomingville in Europe.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested $3.4 billion in 52 portfolio companies with aggregate transaction value of $20 billion. Freeman Spogli has offices in Los Angeles and New York. For additional information, visit www.freemanspogli.com.