New equity firm to pursue retail acquisitions
Gary Evans -- Home Textiles Today, June 25, 2007
Newton, Mass. – A partnership of retail industry and asset management specialists today announced the formation of Golden Acquisition LLC, a private equity firm that will focus on investing in, acquiring and growing retail and consumer brands.
Golden Acquisition, which was formed by the principals of Hudson Capital Partners, LLC (Hudson Capital), will operate separately from Hudson Capital’s asset disposition business.
“The genesis of Golden Acquisition draws upon the unparalleled retail industry knowledge and expertise of our team,” stated James Schaye,” managing partner of Golden Acquisition as well as president and ceo of Hudson Capital. “We see numerous compelling opportunities to acquire and further develop great retail brands, enhancing their performance and building value through investments in growth and active management of their businesses.”
Schaye began his career with Raymond's Department Store, his family's business, then worked for Federated Department Stores in several capacities. Before founding Hudson Capital Partners, LLC, Schaye spent 15 years with Gordon Brothers and Schottensteln Corp., specializing in strategic store closings, asset recovery of inventory, fixtures, underlying real estate and leases.
Golden Acquisition is a co-investor in the recent purchase of Norwood, Mass.-based Domain Home, a 26-store chain of furniture and home fashions. A partnership consisting of Golden Acquisition and Synergy Enterprises, LLC acquired an 85% interest in Domain from Aga Foodservice Group. Domain had 2006 sales of approximately $71 million.
“This transaction is a perfect example of how we plan to use our retail industry expertise, capital resources, management skills and an eye for innovative deal structures to identify and add value to attractive retail brands,” said Schaye.