Ellery Homestyles in recap with investment firm
Staff Staff -- Home Textiles Today, January 6, 2011
Miami - Diversified home textiles producer Ellery Homestyles LLC has completed a recapitalization with private investment firm Trivest Partners, which concentrates its investments in founder/family owned businesses in the United States and Canada.
Ellery's founder and ceo, Budd Goldman, will continue as an owner of the business and lead Ellery's daily operations. Trivest Fund IV, with $325 million in commitments, and Goldman provided equity for the transaction. Senior financing was provided by Wells Fargo and Pepper Hamilton acted as legal counsel to Trivest.
"Our partnership with Trivest will be instrumental in helping Ellery successfully execute numerous strategies for continued growth, including existing product line expansion, new product development and a significant focus on the e-commerce channel," said Goldman.
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