JH Partners sells part of stake in jewelry company Alex & Ani-Reuters

(Reuters) – JH Partners has sold part of its ownership in jewelry company Alex & Ani, the private equity firm said on Monday.

San Francisco-based JH Partners, which acquired a 40 percent stake in 2012, sold half of its holding to British buyout firm Lion Capital LLP.

Reuters reported last week that Alex & Ani, which makes charm bracelets, could be valued for as much as $1 billion.

Rhode Island-based Alex and Ani posted revenue of $350 million this year and earnings before interest, tax, depreciation and amortization of around $80 million, sources told Reuters.