Altamont Capital Partners Invests in The Robert Albert Group

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."

Thomas RussellThomas Russell | Associate Editor, FurnitureToday
trussell@furnituretoday.com

I'm Tom Russell and have worked at Furniture/Today since August 2003. Since then, I have covered the international side of the business from a logistics and sourcing standpoint. Since then, I also have visited several furniture trade shows and manufacturing plants in Asia, which has helped me gain perspective about the industry in that part of the world. As I continue covering the import side of the business, I look forward to building on that knowledge base through conversations with industry officials and future overseas plant tours. From time to time, I will file news and other industry perspectives online and, as always, welcome your response to these Web postings.

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