Investment Summary

FirePine Group and Clearlake Capital Exit Ashley Stewart

On June 6, 2016, private equity firm Invus Group and lender Monroe Capital invested in apparel/textiles company Ashley Stewart from FirePine Group and Clearlake Capital

Investment Highlights
  • This is Invus Group’s 1st and Monroe Capital’s 3rd transaction in the Apparel/Textiles sector.
  • This is Invus Group’s 6th and Monroe Capital’s 60th transaction in the United States.
  • This is Invus Group’s 1st and Monroe Capital’s 4th transaction in New Jersey.
Investment Fate
  • Ashley Stewart was sold to a strategic buyer in 2024.

Investment Summary

Date 2016-06-06
Target Ashley Stewart
Sector Apparel/Textiles
Investor(s) Invus Group
Monroe Capital
Sellers(s) FirePine Group
Clearlake Capital
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)
O'Melveny & Myers (Legal)

Target

Ashley Stewart

Secaucus, New Jersey, United States
Ashley Stewart is a global lifestyle brand for plus size women’s fashion. Ashley Stewart offers on-trend clothing and accessories through 89 retail stores across the country, a leading social media platform and a rapidly growing e-commerce platform. Ashley Stewart was founded in 1991 and is based in Secaucus, New Jersey.

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Investor(S) 2

Investor

Invus Group

New York, New York, United States

Category Private Equity Firm
Founded 1985
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Invus Group is a private, global investment firm that makes equity investments in private and public companies. For private companies, Invus seeks control as well as minority investments in high-growth companies where the firm can add strategic value. For public companies, Invus looks to invest in small to mid-cap stocks that are trading below the firm's assessment of their intrinsic business value. Areas of interest include consumer products and services, food, specialty retail, software, biotech, medical devices and products and services to professionals. Invus typically targets investments in the US, Europe, and Asia. The Invus Group was formed in 1985 and is based in New York City.


DEAL STATS #
Overall 7 of 9
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
State: New Jersey M&A 1 of 1
Country: United States M&A 6 of 8
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-04 SnagAJob

Glen Allen, Virginia, United States

SnagAJob is an online community of hourly workers and a provider of workforce management solutions that allow employers to more effectively hire and manage their hourly workforce. SnagAJob was founded in 1999 and is based in Glen Allen, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-13 Bizagi

Tysons, Virginia, United States

Bizagi is an enterprise software company for digital transformation. Bizagi helps organizations to transform into digital businesses. Its process automation platform connects people, applications, devices and information to deliver the engaging experience that today’s customers demand. Bizagi was founded in 1989 and is based in Tysons, Virginia.

Buy -
Investor

Monroe Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2004
PE ASSETS 14.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the US and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, asset based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital is a generalist investor and will consider companies in the healthcare, technology, media, retail, consumer sectors. Monroe Capital was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 60 of 135
Sector: Apparel/Textiles M&A 3 of 3
Type: Secondary Buyout M&A Deals 6 of 21
State: New Jersey M&A 4 of 5
Country: United States M&A 60 of 134
Year: 2016 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-27 Complete Nutrition

Omaha, Nebraska, United States

Complete Nutrition is a network of high-quality nutritional supplement retail stores whose mission is to create safe and effective weight loss management, sports nutrition and general health programs to help customers look better, feel better and perform better.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-13 Berkshire Blanket

Ware, Massachusetts, United States

Berkshire Blanket is a designer, importer, and marketer of blankets and throws made from a wide variety of fabrics. The company’s brands include their proprietary Berkshire Blanket and Better Living brand names and the licensed Nautica and Liz Claiborne brand names.

Sell -

Seller(S) 2

DESCRIPTION

FirePine Group is a special situations private equity firm focused on the retail and consumer sectors. FirePine Group was formed in 2009 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: New Jersey M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-23 Ashley Stewart

Secaucus, New Jersey, United States

Ashley Stewart is a global lifestyle brand for plus size women’s fashion. Ashley Stewart offers on-trend clothing and accessories through 89 retail stores across the country, a leading social media platform and a rapidly growing e-commerce platform. Ashley Stewart was founded in 1991 and is based in Secaucus, New Jersey.

Buy -
SELLER

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 8 of 39
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 12
State: New Jersey M&A 3 of 4
Country: United States M&A 8 of 36
Year: 2016 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-12 Vision Solutions

Irvine, California, United States

Vision Solutions is a provider of information availability software and services for Windows, Linux, IBM Power Systems and Cloud Computing markets. Vision Solutions was founded in 1990 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-15 NetMotion Software

Seattle, Washington, United States

NetMotion Software is a privately held software company that develops software for organizations with mobile workforces, focusing on security, management, and optimization of their wireless data deployments. NetMotion Software was founded in 2001 and is based in Seattle, Washington.

Sell -