Friend Skoler & Co. Announces Sale of Ballet Jewels to Capelli New York
SADDLE BROOK, NEW JERSEY, September 5, 2014-- Friend Skoler & Co., a private equity firm that invests in leading middle market companies, announced today the sale of Ballet Jewels to an affiliate of Capelli New York. The transaction closed on August 8, 2014.
Headquartered in New York, NY, Ballet is a leading designer and marketer of costume jewelry sold by mass merchants, specialty retailers and department stores. Ballet markets a broad range of costume jewelry products, including earrings, bracelets, necklaces, rings and pins, across the basic and fashion categories.
Friend Skoler purchased a majority interest in Ballet from the Company’s primary shareholder in August 2005. During its ownership of the Company, Friend Skoler worked with the selling shareholder to hire new members of the Company’s senior management team, including the current President and V.P. of Operations. FSC also worked closely with management on several value-added initiatives, including installation of a new MIS system, transitioning from an internal warehouse to a third party logistics provider, implementing upgraded financial reporting and budgeting practices, and establishing China-based offices for supply chain management. During FSC’s ownership period, Ballet significantly increased its sales and clearly established itself as the leading supplier of costume jewelry to the nation’s largest chain retailers.
“Ballet is without a doubt the premier supplier of costume jewelry in the industry today, led by a terrific group of experienced, dedicated employees,” said Alexander Friend, Managing Director of Friend Skoler & Co. “While we will miss working alongside management to continue to build Ballet, the combination with Capelli New York is compelling and we expect it will lead to continued growth for the Company and its employees,” said Mr. Friend.
About Friend Skoler & Co.
Founded in 1998, Friend Skoler & Co., Inc. is a private equity firm that invests in leading companies in the smaller end of the middle market in partnership with management. FSC typically invests between $5 million and $30 million of equity per transaction. A key element of the firm's strategy is to leverage its extensive experience as investors in and operators of middle market companies. Friend Skoler is headquartered in Saddle Brook, NJ. For additional information, please visit www.friendskoler.com.
About Ballet Jewels LLC
Based in New York, NY, Ballet Jewels is the leading designer and marketer of costume jewelry sold by mass merchants, specialty retailers and department stores in the U.S. For more information, please visit www.balletjewels.com.
For additional information, contact:
Friend Skoler & Co.