BOSTON--(BUSINESS WIRE)--J.W. Childs Associates, L.P. (“J.W. Childs”), a private equity firm focused on operational value creation in middle-market growth companies, is pleased to announced that it acquired Walker Edison, a leading supplier of innovative, affordable home furnishings to global e-commerce platforms, from founders Brad Bonham and Matt Davis and Caltius Structured Capital (“Caltius”). Mr. Bonham and Mr. Davis will retain a significant ownership stake in the business.
“We are very excited about our new partnership with J.W. Childs, whose operational expertise will allow us to enhance our leading market position and accelerate growth in existing and new categories,” said Walker Edison Co-Founder and CEO Brad Bonham. “Caltius was the right partner for us over the past two years, helping us achieve tremendous growth.”
“Walker Edison has developed an impressive data-driven, design, sourcing and logistics operation, which allows for integrated partnerships with rapidly growing customers,” said J.W. Childs Partner David Fiorentino. “We are thrilled to work with management to accelerate growth and explore new opportunities.”
“We enjoyed our partnership with Walker Edison and wish the team continued success going forward,” commented Caltius Managing Director Gavin Bates. “The relationship we developed with Brad and the Walker Edison team and the Company’s successful growth during our partnership demonstrates our approach to working with founders and entrepreneurs who seek growth capital, but do not wish to cede operational control.”
J.W. Childs will add operational and financial expertise to the existing Board of Directors of Mr. Bonham, Mr. Davis, and enVista CEO Jim Barnes. Phil Damiano, Operating Partner of J.W. Childs, has been appointed non-executive Chairman. Additionally, Ken Murphy, CEO of J.W. Childs portfolio company EbLens and former CEO of Mattress Firm, Adam Suttin (Managing Partner), Kyle Casella (Vice President) and Mr. Fiorentino will join the board.
Ropes & Gray served as legal counsel to J.W. Childs. Strong & Hanni served as legal counsel to Walker Edison and McGuire Woods served as legal counsel to Caltius. Lincoln International served as the exclusive investment banking representative to Caltius and Walker Edison.
About Walker Edison
Walker Edison partners with leading
global e-commerce platforms to provide innovative home furnishings at
affordable prices. The Company utilizes a data driven approach to
product development and a robust logistics and supply chain to deliver
best-in-class customer service and support. For more information, please
visit www.walkeredison.com.
About J.W. Childs Associates, L.P.
J.W. Childs is a
Boston-based private equity firm focused on investing in middle-market
growth companies. Since inception in 1995, J.W. Childs has invested $3.7
billion of equity capital in 50 companies across the consumer, specialty
retail / e-commerce and healthcare industries. The firm’s success has
been built on its industry focus and the extensive operating expertise
of its partners. For more information, please visit www.jwchilds.com.
About Caltius Structured Capital
Caltius Structured Capital
provides owners of middle market companies throughout North America with
capital solutions for liquidity events and growth opportunities. Caltius
Structured Capital invests from $7 million to $50 million in companies
with positive cash flow, designing flexible capital structures including
subordinated debt, minority/structured equity and unitranches. Currently
celebrating its 20th anniversary and investing from its 5th fund
complex, Los Angeles-based Caltius Structured Capital has invested
approximately $1.2 billion in 67 transactions since 1997. For more
information, please visit www.caltiusstructuredcapital.com.
