M&A Deal Summary

L Catterton Partners and Tower Three Partners Acquire RH

On June 17, 2008, growth capital firm L Catterton Partners and private equity firm Tower Three Partners acquired retailer RH for 267M USD

Acquisition Highlights
  • This is L Catterton Partners’ 3rd and Tower Three Partners’ 1st transaction in the Retail sector.
  • This is L Catterton Partners’ 7th and Tower Three Partners’ largest (disclosed) transaction.
  • This is L Catterton Partners’ 35th and Tower Three Partners’ 1st transaction in the United States.
  • This is L Catterton Partners’ 3rd and Tower Three Partners’ 1st transaction in California.
Investment Fate
  • RH went public in 2012.

M&A Deal Summary
Date 2008-06-17
Target RH
Sector Retail
Buyer(s) L Catterton Partners
Tower Three Partners
Deal Type Going Private
Deal Value 267M USD

Target

RH

Corte Madera, California, United States
Restoration Hardware's corporate headquarters in Corte Madera, California.
Restoration Hardware's corporate headquarters in Corte Madera, California.
RH is a retailer of home furnishings, bath fixtures and bathware, functional and decorative hardware, gifts and related merchandise. RH was founded in 2011 and is based in Corte Madera, California.

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Buyer(S) 2

Buyer

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 38 of 221
Sector (Retail) 3 of 13
Type (Going Private) 2 of 5
State (California) 3 of 25
Country (United States) 35 of 133
Year (2008) 3 of 4
Size (of disclosed) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-03 Princess Yachts

Plymouth, United Kingdom

Princess Yachts is a designer and manufacturer of luxury super yachts, offering yachts through its network of 50 exclusive distributors worldwide. Princess Yachts was founded in 1965 and is based in Plymouth, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-15 Wellness Pet

Tewksbury, Massachusetts, United States

Wellness Pet is a pioneer in the natural pet food movement by offering nutritional recipes with the highest quality ingredients for dogs and cats. Wellness Pet was established in 1926 and is headquartered in Tewksbury, Massachusetts.

Sell -
Buyer

Tower Three Partners

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tower Three Partners is an operationally-oriented private equity firm that invests in US-based middle-market companies. Tower Three seeks growth-oriented opportunities and looks to commit $50 to $150 million per transaction. Tower Three Partners was founded in 2007 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 1 of 6
Sector (Retail) 1 of 1
Type (Going Private) 1 of 2
State (California) 1 of 2
Country (United States) 1 of 6
Year (2008) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-18 Facet

Atlanta, Georgia, United States

Facet is a provider of microsampling sharps products, including lancets, lancing devices, and diagnostic lancets used in blood glucose monitoring and point-of-care testing. Facet was founded in 1984 and is based in Atlanta, Georgia.

Buy -
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