January 09, 2015

Mitchell Gold + Bob Williams acquired by The Stephens Group

On December 17, 2014, The Mitchell Gold Co. d/b/a Mitchell Gold + Bob Williams, formerly a portfolio company of Wafra Partners, was acquired by The Stephens Group, LLC. The Stephens Group has partnered with the company’s co-founders, Mitchell Gold and Bob Williams, who fully maintained their significant ownership position in the business. Mitchell Gold will continue to serve as chairman and chief executive officer of the company. Bob Williams will continue as president of design. Terms of the transaction were not disclosed.

Since founding the company in 1989, Mitchell Gold and Bob Williams have built one of the most exciting brands in home furnishings. Under their leadership, Mitchell Gold + Bob Williams has transformed its business from a predominately wholesale model focused on servicing national specialty retail accounts to a retail-focused model with a comprehensive home furnishings product offering that is well-positioned for accelerated growth through the continued rollout of signature stores and further development of a multi-channel model. Over the last 25 years, Mitchell Gold + Bob Williams has developed a proven track record of design expertise, operational excellence, retail execution and financial stability and growth, becoming a marquee name in the home furnishings retail space with 25 stores located in the leading retail centers in North America.

“Its been a remarkable year for us as we celebrated our 25th Anniversary and found a new partner in The Stephens Group. We are excited to partner with The Stephens Group as we expand into new markets and continue to grow our retail and multichannel presence,” said Mitchell Gold, founder and chief executive officer of Mitchell Gold + Bob Williams. “The Stephens Group’s stable capital, proven history of backing management teams that have a solid vision, and its experience helping companies grow over the long term are important resources to us as we continue to expand our business nationally.”

Kent Sorrells, managing director at The Stephens Group, said, “Our investment in Mitchell Gold + Bob Williams fits perfectly with The Stephens Group’s investment criteria: owner/entrepreneurs who have strong alignment with us through their ownership stake; a compelling opportunity to substantially grow the business; differentiation through industry leadership; and a strong commitment to their employees and customers. Mitchell, Bob and the leadership team are in a stage of dramatically expanding their brand and physical presence. We look forward to supporting them with our capital and experience.”

Piper Jaffray acted as exclusive financial advisors to Mitchell Gold + Bob Williams and Orrick, Herrington & Sutcliffe served as legal counsel. Locke Lord served as legal counsel to The Stephens Group.

ABOUT MITCHELL GOLD + BOB WILLIAMS

Headquartered in Taylorville, North Carolina, Mitchell Gold + Bob Williams is an internationally acclaimed home furnishings luxury brand offering upholstery, casegoods, lighting, rugs and accessories designed to make people comfortable. The company sells its products in a growing chain of Mitchell Gold + Bob Williams Signature stores, national specialty retailers and fine independent home furnishings retailers nationwide, as well as through its website and from its catalog.

ABOUT THE STEPHENS GROUP

The Stephens Group is a private, family-owned firm investing its capital in companies with exceptional management teams and high returns on invested capital in growing industries. The Stephens Group has a long history of successfully investing in both minority and control positions across multiple industries. The Stephens Group, through its affiliates, has or has had significant positions in consumer and specialty retail; telecom, media and technology; communications; energy services and gas exploration and production; manufacturing; and other industries.

ABOUT PIPER JAFFRAY

Piper Jaffray is a leading investment bank and asset management firm serving clients in the U.S. and internationally. Our proven advisory teams combine deep industry, product and sector expertise with ready access to capital. Founded in 1895, the firm is headquartered in Minneapolis and has offices across the United States and in London and Zurich.

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