MIAMI, FL – (January 5, 2011) Trivest Partners (“Trivest”) today announced the successful completion of its recapitalization of Ellery Homestyles, LLC (“Ellery” or the “Company”), a leader in the design, development and distribution of multi-category home fashion products including window treatments, bedding and throws. Ellery’s founder and CEO, Budd Goldman, will continue as an owner of the business and lead Ellery’s daily operations. Ellery represented the 5th platform company investment executed by Trivest during 2010.
Since its founding in 2000, Ellery has successfully grown into a diversified global sourcing and distribution platform with a strong portfolio of proprietary, private-label and licensed brands selling into the home furnishings market. The Company’s blue-chip customer base includes many of the largest retailers in North America. Ellery, based in New York City, has demonstrated significant growth through the Great Recession thanks to its focus on product innovation, high-quality designs and unparalleled supply chain execution.
Ellery’s founder and CEO Budd Goldman stated, “Trivest set themselves apart from other potential partners due to their flexibility, integrity and consumer products industry experience. 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.”
Troy Templeton, Trivest’s Managing Partner, added, “We are very pleased to begin our partnership with Ellery. The Company’s remarkable performance through one of the most challenging consumer environments in history speaks volumes to the quality and sustainability of the business model Budd and his team have created. In addition, Trivest has experienced a great deal of success in the branded consumer products arena, including Banana Boat, AeroBed, Directed Electronics and Twin-Star International. We believe we can leverage our experience in the space to help Ellery continue to prosper in the coming years.”
Trivest Fund IV, with $325 million in commitments, and Budd Goldman provided equity for the transaction. Senior financing was provided by Wells Fargo and Pepper Hamilton acted as legal counsel to Trivest.
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 150 transactions, totaling more than $4.5 billion in value. For additional information, please visit www.trivest.com.