Littlejohn & Co LLC has closed its previously announced acquisition of St. Augustine, Florida-based Brown Jordan International Inc, a maker of indoor and outdoor furniture. No financial terms were disclosed. Goldman Sachs and Société Générale provided the financing while Moelis & Company served as financial adviser to Brown Jordan.
GREENWICH, CT, February 1, 2017 – Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has acquired Brown Jordan International, Inc., (“BJI”) a leading manufacturer of indoor and outdoor furniture serving a variety of commercial and consumer markets.
Headquartered in St. Augustine, Florida, BJI offers a complete line of indoor and outdoor furnishings primarily for use in hospitality, leisure, multi-family, corporate, restaurant and other commercial environments through its Brown Jordan, Charter, Texacraft, and Tropitone segments. “Brown Jordan is an iconic brand and BJI is a unique platform in the outdoor and indoor furniture market” said David Simon, Managing Director of Littlejohn. “We are excited to partner with BJI’s management team to drive the Company’s next leg of growth.”
“BJI’s unique value proposition, driven by superior quality, service, innovation, and order execution has enabled BJI to win market share across each of its business segments,” said Gene Moriarty, Chief Executive Officer of BJI. “The Company’s low-cost, domestic manufacturing and distribution footprint is a strategic asset and we welcome Littlejohn’s expertise and support to help us execute on a number of high-return continuous improvement initiatives to deliver even more value to our customers.”
Steven Kalter, Principal of Littlejohn, added, “Under Gene’s leadership, BJI has diversified and grown its end market exposure through a focus on investing in its commercial segment. We look forward to supporting the Company’s acquisition program to further strengthen its positioning as a one-stop shop for its customers in both the commercial and consumer markets and leverage its best-in-class distribution network.”
Financing for the transaction was provided by Goldman Sachs and Société Générale. Gibson, Dunn & Crutcher, LLP provided legal counsel to Littlejohn. Moelis & Company served as exclusive financial advisor to BJI.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.