Investment firm partners with management to grow leading designer fabric business
New York and Palo Alto, CA, June 9, 2011 — The Robert Allen Group, the New York City-based, leading designer and marketer of decorative fabrics and furnishings, and private equity firm Altamont Capital Partners (Altamont) today announced that The Robert Allen Group has received an equity investment from Altamont.
“We are highly enthusiastic about the combination of strategic guidance and financial backing that Altamont offers our business,” said Robert Allen’s Chairman & Chief Executive Officer, Jeff Cordover. The Cordover family maintains a significant ongoing equity ownership stake in the business.
Altamont is a $500 million private equity fund focused on investing in industry-leading businesses and helping them realize their full potential. Robert Allen is the firm’s second investment from its inaugural investment fund.
“Robert Allen is a market leader with premium brands and a long history of innovation in the designer fabric industry,“ said Steve Brownlie, Principal of Altamont. “We believe that the additional capital will allow the Company to expand both organically and through acquisitions, and we look forward to supporting the existing management team in their pursuit of the many opportunities the industry presents.“
Robert Allen will continue to provide world class service, support and products to the country’s leading interior design professionals and commercial customers.
“This investment will allow us to build on our success as the preeminent resource to the trade,” said Cordover. “We are proud of Robert Allen’s long history of innovation and look forward to continuing to build upon that legacy.”
Stifel Nicolaus Weisel served as Robert Allen’s financial advisor on the transaction.
ABOUT ROBERT ALLEN
The Robert Allen Group is the nation’s leading designer and marketer of decorative fabrics and furnishings to the interior design trade. The Company sells its products under the Beacon Hill, Robert Allen, Robert Allen Contract and Robert Allen @ Home brands. The Company has showroom locations throughout the United States, Canada, and the United Kingdom, and an extensive worldwide agent showroom network. For customer service in the U.S., please call 800-333-3777.
www.robertallendesign.com
ABOUT ALTAMONT CAPITAL PARTNERS
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with approximately $500 million of capital under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including financial services, consumer/retail, industrials, healthcare and business services.
For further information:
Jolie Cross Cohen
The Robert Allen Group
212.576.9115
[email protected]
Brunswick Group on behalf of Altamont
Carol Roos
415 671 7480 (o) 415 309 1341 (c)
[email protected]