UPDATE: Charlesbank Capital Partners and Webster Capital Close Acquisition of OneStopPlus Group
BOSTON, MA, Feb 05, 2013 (MARKETWIRE via COMTEX) --
Charlesbank Capital Partners and Webster Capital announced today
that they have acquired OneStopPlus Group ("OSP"), a transaction
first announced in December. OSP was a subsidiary of Redcats, owned
by Paris-based luxury and sport & lifestyle group PPR. Charlesbank
partnered with Webster Capital on the transaction, which was funded
with both equity and debt. The OSP management team will also
co-invest in the transaction.
New York City-based OSP is a catalog retailer and online marketplace
for plus-size consumers. The company includes four women's apparel
lines, Woman Within, Roaman's, Jessica London and fullbeauty, as well
as men's line King Size, home goods brand BrylaneHome, the
OneStopPlus.com online fashion mall and a clearance apparel website.
Known for its focus on the plus-size customer and the breadth of its
merchandise offering, OSP carries more than 10,000 products and 70
Andrew Janower, Charlesbank Managing Director, said, "We are
delighted to have closed this transaction and look forward to working
with OSP's management team to continue building the leading
direct-to-consumer platform for the plus-size customer. We are
excited by the opportunity to expand OSP's business through both
organic growth and strategic acquisitions."
"Webster believes that OSP has a strong management team and a
compelling position in the marketplace," said Don Steiner, Managing
Partner of Webster Capital. "We are enthusiastic about our continued
partnership with Charlesbank and confident that we can help provide
resources and expertise to grow OSP."
Sylvain Desjonqueres, Chief Executive Officer of the OSP Group, said,
"We are very pleased to have found partners who share our vision of
the growth opportunities available to the OSP Group. We look forward
to doing even more to provide the plus-size customer with the best
product, fit, selection, shopping experience and customer service in
Consensus Advisors acted as financial advisor and Goodwin Procter
acted as legal advisor to Charlesbank and Webster in the transaction.
For PPR, Peter J. Solomon Company acted as financial advisor and
Wachtell, Lipton, Rosen & Katz acted as legal advisor.
About Charlesbank Capital Partners
Based in Boston and New York,
Charlesbank Capital Partners is a middle-market private equity
investment firm managing more than $2 billion of capital. Charlesbank
focuses on management-led buyouts and growth capital financings,
typically investing $50 million to $150 million per transaction in
companies with enterprise values of $100 million to $750 million. The
firm seeks to partner with strong management teams to build companies
with sustainable competitive advantages and excellent prospects for
growth. For more information, visit www.charlesbank.com.
About Webster Capital
Founded in 2003, Webster Capital is a private
equity partnership with over $200 million in capital under management
which invests in healthcare services, branded consumer and business
to business companies. Webster focuses on companies with EBITDA of
between $3 million to $15 million and transaction values of less than
$100 million. Webster Capital provides equity financing, expertise
and a broad contact network for management buyouts and growth
capital. For additional information on Webster Capital please visit
SOURCE: Charlesbank Capital Partners
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