Altamont Capital Partners invests in The Robert Allen Group
June 9, 2011-- Home Textiles Today,
New York - Private equity fund Altamont Capital Partners has made an equity investment in fabric and furnishings house The Robert Allen Group.
The size of the investment was not disclosed, but Robert Allen said in a release that the Cordover family maintains a significant and ongoing ownership stake in the business.
Altamont, based in Palo Alto, Calif., is a $500 million private equity fund. Robert Allen is the firm's second investment from its inaugural investment fund.
"We are highly enthusiastic about the combination of strategic guidance and financial backing that Altamont offers our business," said Robert Allen's chairman and ceo, Jeff Cordover.
Altamont principal Steve Brownlie said: "We believe that the additional capital will allow the company to expand both organically and through acquisitions, and we look forward to supporting the existing management team in their pursuit of the many opportunities the industry presents."
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