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Phoenix Serves as Financial Advisor in SFERRA Bros. Investment

September 11, 2013, 07:46 AM
Filed Under: Industry News

Phoenix Management Services acted as the exclusive financial advisor to Final Word Investments, LLC (Final Word), the family holding company of Budd Goldman (Founder, Chairman and CEO of Ellery Homestyles) in connection with its partnership with Levine Leichtman to provide growth capital to SFERRA Bros., Ltd. SFERRA, founded in 1891, is a leader in producing luxury linen products of the highest quality for luxury retailers, boutiques, and department stores throughout the United States. The Company’s core bedding products are complemented by the finest array of table linens, bath items, and decorative accessories.

Phoenix spearheaded Final Word’s due diligence efforts, identified and analyzed growth initiatives, crafted Final Word’s investment thesis, and coordinated interactions with potential private equity partners. Final Word evaluated value-added partners to provide financing and capital to fund a variety of growth initiatives, and eventually partnered with Levine Leichtman Capital Partners V, L.P. (“LLCP”). On August 19, 2013, LLCP closed on its growth capital investment in SFERRA. In conjunction with the transaction, Budd Goldman will join the Board of Directors of SFERRA. The Phoenix team was led by Michael E. Jacoby and Donald J. Cunningham.

Donald J. Cunningham, Associate at Phoenix, said, “The professionals at LLCP demonstrated immediate and genuine enthusiasm about the SFERRA opportunity. Final Word was pleased to collaborate with such a value-added partner. We look forward to LLCP’s leadership and involvement with SFERRA as the parties continue to expand and capitalize upon the company’s already-dominant presence in the luxury linens space.”

Phoenix Management Services provides turnaround, crisis & interim management, specialized advisory, and operational due diligence services for both distressed and growth-oriented companies.

Levine Leichtman Capital Partners is a Los Angeles-based investment firm that manages approximately $6.5 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, Pacific World Corporation, CiCi’s Pizza, Media Arts Group, and Quizno’s.

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