Founded in 1986, JH Partners, LLC, formerly Jesse.Hansen&Co. ("JH Partners" or "JHP") is a San Francisco-based private equity firm focused on building sustainable, long-term equity value in consumer and marketing-driven growth companies.
JH Partners differentiates itself from traditional private equity groups by the considerable operating experience of its principals, which includes more than 35 years of combined tenure in senior operating roles. JH Partners invests in growth oriented businesses with sustainable competitive advantages and revenues of $10 to $150 million.
JH Partners' professionals work closely with the management teams of partner companies, providing strategic, operating and financial guidance to facilitate the growth and success of these companies and to provide meaningful returns to investment and management partners. JH Partners' relationships with management are long-term in nature, which enables JHP to provide close collaboration over a range of strategic issues.
The principals of JH Partners have been responsible for managing approximately $500 million of equity value in the firm’s investment portfolio. In addition, JH Partners' principals have consistently committed significant amounts of personal capital to JHP investments and view themselves as co-investors, not money managers.
JH Partners believes that the close working relationship of the principals and senior operating partners with the management teams of partner companies is instrumental in building value for our investors and management partners.
Importantly, many senior executives from our past partner companies have remained active with us as investors, directors, and executives in later investments. Listed below are representative partner companies of JH Partners (click on logo to access individual company websites).
AmeriMark Direct is a leading direct marketer of women's apparel, name brand cosmetics and fragrances, jewelry, watches and accessories, and health related merchandise. In business for over 36 years, AmeriMark sells its merchandise through several distinctive catalogs and ships millions of packages to its satisfied customers each year. AmeriMark also offers memberships in the Passport to Savings and Passport to Health discount buying programs.
Bare Escentuals, one of the fastest growing personal care companies in the U.S., is a developer and multi-channel marketer of cosmetics, skin care and body care products. The company's ID bareMinerals product line is the nation's leading mineral make-up. Bare Escentuals branded personal care products are sold nationwide through select beauty retailers, direct-response television, the Internet, mail order and company-owned boutiques. Bare Escentuals was merged with MD Formulations in November 2001. In June 2004, JH Partners led a fourth recapitalization of the Company which provided an opportunity for several new investors.
Completed Recapitalization - June 2004; February 2005; October 2005
Today, Bell is a well-recognized consumer brand known not only within auto racing and motorcycle circles, but also by the countless millions of cyclists and parents who purchase Bell bicycle helmets and accessories for themselves and their children every year. Now Bell is back to its automotive roots, offering an array of automotive accessories designed to provide convenience and fun to your everyday driving experience.
Acquired Victor Products - October 2005
For 25 years, CHEF'S has been a leading resource – first in catalogs and now also online – for home chefs and culinary professionals seeking the best for their kitchens. CHEF'S selection is constantly expanding to include the most advanced electrics, finest cookware and cutlery, and state-of-the-art tools from the best brands in the kitchen: All-Clad, Calphalon, Cuisinart, KitchenAid, Microplane, Wusthof, and many more.
Country Home Products is a designer, assembler, and marketer of professional grade outdoor power equipment for homeowners under the DR and Neuton brand names. The Company was founded in 1985 by former members of the Garden Way executive team and is located in Vergennes, Vermont.
Design Within Reach is a provider of distinctive modern design furnishings and accessories. The company markets and sells products from prominent designers, such as Ludwig Mies van der Rohe and Charles and Ray Eames, through four highly integrated sales channels, consisting of its studios, catalog, website and direct sales force. This seamless channel integration and use of a single, common inventory enable DWR to offer merchandise on an ‘in stock and ready to ship’ basis, versus traditional furnishings retailers, which typically require customers to wait weeks or even months for their products.
Completed Initial Public Offering (NASDAQ: DWRI) - June 2004
Frette is an Italian retail and wholesale company that markets luxury fabrics and linens to individuals and hospitality businesses around the world. Founded in 1860, Frette sells high-end Italian linens to individual customers and the top hotels and resorts around the world. Frette still operates out of its original production facility outside Milan. Previously, Frette was owned by Fin.Part Group.
GoSMILE, Inc. is a producer and multi-channel marketer of advanced tooth-whitening and oral care products designed to promote health and beauty on the go. The products were developed by Dr. Jonathan Levine, a professor of aesthetic dentistry at NYU and authority on cosmetic procedures, who also has an established private dental practice in New York City; and they have been proven through clinical study to be more effective than competing products on the market. GoSMILE is currently sold through specialty retailers and high-end department stores in both the U.S. and Europe.
Jurlique International is an Australian based manufacturer and multi-channel global marketer of natural skincare products. The products are derived from herbs and plant extracts grown on the Company’s farm in South Australia. Jurlique distributes its products primarily in Asia, Australia and the United States, through a network of Company owned stores, distributors, high-end department stores, pharmacies, spas and via duty free . The Company was founded by a horticulturist and scientist in 1983.
Since 1983, MD Formulations has been delivering new and innovative skin care treatments and products that fuse beauty with science. The company develops and markets its leading results-oriented aesthetic skin care line under the brand md formulations, which is distributed nationwide through aestheticians, the Internet, company-owned boutiques and select beauty retailers. MD Formulations was merged with Bare Escentuals in November 2001.
Completed Sale/Recapitalization - June 2004
NapaStyle is a media company founded by Michael Chiarello, chef, author, and host of the popular PBS cooking show, Season by Season, and the upcoming new series, Michael Chiarello's Napa. With NapaStyle, Michael celebrates the distinct style of living found in the Napa Valley and the culinary traditions of his Calabrian family. Through recipes and cookbooks, television and radio, website, catalog, and his own brand of premium, seasonal foods, Chiarello encourages home chefs to create their own traditions for every season and to share them with family and friends.
Peet's Coffee & Tea is a specialty roaster that markets premium branded and fresh-roasted whole bean coffee and hand selected tea. Since 1966, Peet's has been delivering the freshest, deep-roasted beans for residential and commercial consumption through multiple channels of distribution. From what began as a one-store operation based in Berkeley, California, Peet's distribution network today includes leading specialty grocery and gourmet food stores, online and mail order, restaurant and food service, and company-owned stores in six states.
Completed Initial Public Offering (NASDAQ: PEET) - January 2001
PlanetOut is a leading online media company serving the gay and lesbian community, a market with reported buying power of $485 billion annually. The company is considered to be the largest network targeting this market in the world with over 3.3 million active members who reside in over 100 countries. PlanetOut offers free and premium member services, targeted content, shopping, travel products and services, and instant messaging through its flagship websites Gay.com and PlanetOut.com.
Completed Initial Public Offering (NASDAQ: LGBT) - October 2004
Six Degrees Records is an independent music label that produces and markets music for the adult alternative market, combining elements of jazz, Latin, world, contemporary instrumental, ambient, contemporary classical, folk and intelligent pop music. Artists include Bebel Gilberto, Los Mocosos, Willy Porter and The Real Tuesday Weld among others. Six Degrees Records has won the 'Best Small Label' award from the National Association of Record Merchandisers the past two consecutive years.
VIOlight offers consumers the VIOlight Toothbrush Sanitizer & Storage System, a revolutionary product utilizing an ultraviolet (UV) bulb to eliminate germs and bacteria in toothbrushes. Laboratory tests show the technology eliminates up to 99.9% of toothbrush germs, safeguarding the whole family from harmful bacteria and cross contamination. The sleek, unobtrusive Philippe Starck design is a welcome addition to anyone’s bathroom. VIOlight was a Gold Winner of BusinessWeek’s Industrial Design Excellence Award in 2005, was listed as one of Time Magazine’s “Coolest Inventions of the Year” in 2004.
For over fifty years, Walter Drake has been a catalog retailer of unique, inexpensive gifts, gadgets and personalized items in addition to household goods and kitchen products. Walter Drake has built a national brand with an established, loyal customer base through its diverse and continually expanding product line and its longstanding reputation for providing superior customer service. Catalog titles include Walter Drake, Home Marketplace, HomeWares and Directions.
Sold to Strategic Investor - December 2003
Mr. Hansen is currently President of JH Partners, a position he has held since he joined the firm in March 1998. He combines a background as a private equity investor with ten years as a general manager in the consumer and retail sector, having built businesses ranging in size from $10 million to $200 million.
Prior to joining JH Partners, Mr. Hansen was President and CEO of ThermoLase (AMEX: TLZ), a publicly-held aesthetic laser technology company, previously a division of ThermoElectron Corporation. His operating experience also includes service as President of Bare Escentuals, a premier brand of all-natural cosmetics and skin care products, and VP, Retail of Performance Bicycle Shop, the nation’s largest independent retailer and direct marketer of cycling products. Mr. Hansen was previously a principal with General Atlantic, a private investment company, and worked as an investment banker in the mergers and acquisitions department of Morgan Stanley & Co. in New York.
Mr. Hansen serves as Chairman of Design Within Reach, Inc. (NASDAQ: DWRI). He also serves on the boards of directors for Frette, Bare Escentuals, NapaStyle, GoSMILE, Jurlique and Six Degrees Records. He has previously served on the boards of Walter Drake, MD Formulations, The Record Bar, Performance Bicycle Shop, Bell Sports, Wellpet and ThermoLase.
Mr. Hansen received an MBA from Harvard Business School, a JD from the University of California (Boalt Hall), and an AB from Harvard College. He is a member and past Chairman of the Northern California Chapter of the Young Presidents’ Organization.
Mr. John joined JH Partners in 2004. He combines extensive experience building, leading and managing middle market consumer companies with an active history of investing in privately-held consumer firms and in real estate. Mr. John has regularly co-invested with the firm in its partner companies since 1998.
Prior to joining JH Partners, Mr. John was President and CEO of City Graphics, a firm he founded and grew to $31 million in revenues in seven years. His experience also includes service as President and CEO of Pacific Lithograph, where he built the company into the largest commercial lithographer in San Francisco. Mr. John has also built a successful real estate development practice in Idaho where he has developed over $75 million of projects.
Mr. John currently serves on the boards of AmeriMark Direct, Bare Escentuals, Bell Automotive, Chef's, Country Home Products, Frette and VIOlight, and he received a BS from the University of Oregon. Mr. John is a past member of the Northern California Chapter of the Young Presidents’ Organization.
Mr. Williamson serves as the CFO of JH Partners, a position he has held since he joined the firm in 1999. He is experienced in developing and managing company financial and administrative systems.
Prior to joining JH Partners, Mr. Williamson worked in the public accounting field and held financial officer positions with three organizations. After qualifying as a Chartered Accountant in London, England, he worked in both the New York and San Francisco offices of Deloitte & Touche, LLP, providing audit and consulting services to the firm’s retail clients. Mr. Williamson left public accounting in 1993 to serve as the CFO for Stanford Bookstores, Inc., and held similar positions for a government-funded international relations organization and a non-profit development corporation. During his tenure at JH Partners, Mr. Williamson has functioned as a part-time and interim CFO of several portfolio companies.
Mr. Williamson received a Master of Arts degree from the University of Edinburgh, Scotland, and a certification from the Institute of Chartered Accountants in England and Wales. He is active in the nonprofit field and is currently on the board of the Horizons Foundation.
Mr. Hansen joined JH Partners in 2003 and works closely with several partner companies, including Frette, CHEF'S, GoSMILE and Country Home Products. Prior to joining the firm, Mr. Hansen worked at E-Offering Corp, a start-up technology company/investment bank designed to leverage the Internet as a channel for research and product distribution, which he helped grow to 140 employees before it was acquired by WitSoundView Group, Inc.
Prior to E-Offering, Mr. Hansen worked at Burr, Egan, Deleage & Co. (now Alta Communications), a private equity firm with approximately $600 million under management. At Burr, Egan, Mr. Hansen was involved in sourcing, structuring and monitoring equity and mezzanine investments in areas of media and communications. Prior to Burr, Egan, Mr. Hansen worked in investment banking at Salomon Brothers Inc.
Mr. Hansen received an MBA from Harvard Business School and a BA from the University of Virginia.
Mr. Collins joined JH Partners in 2002. Prior to joining the firm, Mr. Collins worked at Behrman Capital, a private equity firm with $1.8 billion under management. At Behrman, Mr. Collins helped to originate, structure, document and monitor private equity investments. He actively participated in the sale and initial public offering of two of these investments.
Mr. Collins’ most recent operating experience was gained as a member of PeopleSoft, Inc.’s Portal Solutions product marketing team where he helped launch what has become one of PeopleSoft’s largest selling software products. In addition, Mr. Collins obtained operating experience leading the start-up efforts of one of Behrman Capital’s portfolio investments. Prior to Behrman Capital and PeopleSoft, Mr. Collins was an investment banker in the high-yield finance group at Merrill Lynch & Co., Inc. in New York.
Mr. Collins received an MBA from Harvard Business School and a BA from Yale University, where he was elected to Phi Beta Kappa.
Mr. Roberts joined JH Partners in 2004. Prior to joining the firm, Mr. Roberts worked in the investment banking division at UBS as an analyst in the Restructuring / Leveraged Finance Group. At UBS, Mr. Roberts was involved in restructurings, buyside advisory and bank and high yield debt financings. His responsibilities included financial, credit and valuation analysis, due diligence, and industry and company research. Mr. Roberts’s industry experience includes consumer products, transportation, general industrials, media and technology.
Mr. Roberts earned a BS in Management Science & Engineering with a concentration in Industrial Engineering from Stanford University.
Ms. Bell joined JH Partners in 2005. Prior to joining the firm, Ms. Bell worked at Bain & Company. At Bain, Ms. Bell worked in a variety of practice areas—including consumer products, retail, and technology—helping clients on their most critical strategic and operational challenges. She also worked in Bain & Company’s private equity practice, where she conducted strategic and operational diligence on numerous acquisition targets.
Ms. Bell’s prior operating experience includes working with management teams on a wide variety of issues, including business unit strategy, sales and marketing optimization, merger integration, operational improvement and organizational design. While at Bain & Company, she also worked in BainLab, Bain & Company’s new venture arm, where she helped launch a new real estate concept, CataList Homes, now one of the largest real estate services in its markets.
Ms. Bell received an MBA from Harvard Business School and a BS in Business from UC Berkeley’s Haas School of Business.
Mr. Ramsey joined JH Partners in 2005. Prior to joining the firm, Mr. Ramsey worked for two years as an analyst in the Mergers & Acquisitions Group at CIBC World Markets Corp. in New York. At CIBC, Mr. Ramsey worked on public company and financial sponsor transactions, with a focus on the consumer product and healthcare sectors.
Mr. Ramsey earned an AB in Economics from Harvard College.
Scott Spande joined JH Partners in 2001 and is the Executive Assistant to both John Hansen and Michael John. Prior to joining the firm, Scott was the Executive Assistant to the Director of a National Research Consortium at Kaiser Permanente. Scott received an Associates Degree in Business from City College of San Francisco.
Josie Shafer joined JH Partners in the fall of 2004 as an administrative assistant. Her prior experience spans mergers and acquisitions, publishing and the performing arts. Josie received a BA from Sarah Lawrence College in 2000 and attended the Instituto Internacional in Madrid, Spain during her junior year.
Shirley Marsh joined JH Partners in November 2004. Shirley is the Executive Assistant to the JH Partner Team. Prior to JH Partners Shirley worked at UBS Securities LLC in the Restructure Group, San Francisco. Shirley attended the DIT, College of Marketing and Design in Dublin, Ireland.
Mr. Lee is currently Co-Chairman of Bell Sports, Executive Chairman of Bay Travelgear, Inc., and CEO of Bell Automotive. Mr. Lee is also the Managing Director of Hayden Capital Investments, an investment fund he and his partner founded.
Mr. Lee’s prior experience includes service in the roles of Chairman, CEO and COO of Bell Sports, where the company’s revenues grew from $28 million to $207 million during his tenure. In addition, he served as SVP of Sales, Distribution and Service of Wilson Sporting Goods. Mr. Lee worked extensively with Mr. Hansen when Mr. Hansen was responsible for General Atlantic’s investment in Bell Sports.
Mr. Lee currently serves on the boards of Bell Sports, Design Within Reach, Tailwind Sports Corporation, a sports management company (owner of the U.S. Postal Service Bicycle Team), and The Boys & Girls Clubs of Metropolitan Phoenix. He is also a member of the CEO Founders Circle for Thomas Weisel Partners Merchant Bank.
Ms. Blodgett is currently President and CEO of Bare Escentuals, a JHP partner company, a position she has held since 1994. Under Ms. Blodgett’s direction, Bare Escentuals has increased sales from $30 million to over $200 million.
Ms. Blodgett’s prior experience includes service in executive positions in product development and brand management at Max Factor, Proctor & Gamble and Neutrogena. Ms. Blodgett’s current and past board positions include GoSMILE, Bare Escentuals, Walter Drake and MD Formulations.
Ms. Blodgett completed the Cosmetic Marketing Program at Fashion Institute of Technology in New York.
Mr. Badovinus is currently CEO of Design Within Reach, a JHP partner company. Under Mr. Badovinus’ tenure, Design Within Reach has grown sales from $2 million to $82 million in under four years. Mr. Badovinus has also played an active role in other JHP partner companies, including NapaStyle and Walter Drake.
Mr. Badovinus’ prior experience includes service as President and CEO of Acme Boot Company; President and CEO of Eddie Bauer, where he grew the company’s revenues from $200 million to $1 billion; President of Williams Sonoma; Chairman and CEO of Frederick & Nelson; President and CEO of Broadway Southwest Department Stores; EVP of Emporium Capwell Company; and VP of Nordstrom.
Mr. Badovinus currently serves on the boards of Design Within Reach and NapaStyle. He has previously served on the boards of The Vermont Country Store, Inc., Gardener’s Supply Company, Autumn Harp, Inc., The New England Overshoe Company (NEOS), Walter Drake and Sagus International. Mr. Badovinus holds a BA from the University of Washington.
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JH Partners 451 Jackson Street San Francisco, CA 94111.1615 |
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415.364.0300 |
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415.364.0333 |
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VERGENNES, VT and SAN FRANCISCO, CA – March 1, 2006 – Country Home Products, Inc., a designer, assembler, and marketer of professional grade outdoor power equipment for homeowners under the DR and Neuton brand names, announced today that it has been recapitalized with an investment by private equity firm JH Partners and Country Home Products management.
“With their historical focus on companies with aspirational brands, JH Partners brings much more than capital to this relationship. Together, we will continue to innovate in our industry, building an even stronger platform for Country Home Products,” said Joe Perrotto, the Company’s President and CEO.
“The opportunity to partner with a market-leader like Country Home products offers us the ability to leverage our past experience to create value in partnership with Joe and his team. Our focus at JH Partners is on building sustainable, long-term equity value in consumer and marketing-driven growth companies. We believe there is a significant opportunity for a number of our current portfolio companies to learn from the extraordinary and hard-earned success of Country Home Products, while drawing on best practices from many of these same companies to bolster Country Home Products,” added Jeff Hansen of JH Partners.
Worth Mountain Capital Partners acted as exclusive financial advisor to Country Home Products. Debt financing for the transaction was provided by Citizens Bank N.A.
About Country Home Products, Inc.
Founded in 1985, Vergennes, Vermont-based Country Home Products (www.drpower.com) is a multi-channel marketer of the DR® and Neuton® brands of specialty outdoor power equipment and related products for property owners. DR® is the only brand of professional-quality outdoor power equipment that offers different and better solutions for homeowners who enjoy maintaining their country properties themselves.
MILAN, ITALY and SAN FRANCISCO, CA-- December 1, 2005 -- Frette S.p.A. (“Frette”) and Coraline S.p.A. (“Coraline”) today announced that Coraline, a wholly owned company of San Francisco based private equity firm JH Partners, has acquired Frette’s operations and international subsidiaries. Frette is an Italian retail and wholesale company that markets luxury fabrics and linens to individuals and hospitality businesses around the world. Previously, Frette was owned by Fin.Part Group.
The transaction follows an earlier lease and licensing agreement between Coraline and Frette which went into effect on December 16, 2004. Today’s transaction will allow Coraline to further develop the business and distribution of Frette products with exclusive rights to Frette’s trademark. The agreement also contains a provision that will allow Coraline the option to acquire the Frette trademark.
John Hansen, Chairman of the Board of Coraline S.p.A. said: “We are pleased to complete this transaction. This agreement will help ensure the future success of Frette and enhance the reputation of the brand for luxury products in high growth markets throughout the world.”
“In addition to financial support, JH Partners has demonstrated a firm commitment over the past year to Frette and its employees around the world,” added Hansen. “This important acquisition will strengthen Frette’s operations, and enable the company to expand its distribution channels to new markets, offering a significant growth opportunity for Frette and its investors.”
JH Partners was advised by the UK private bank AdviCorp.
About Frette
Over the course of 150 years of operations, Frette has become a global leader in the home and hospitality textile markets throughout the world. Frette S.p.A. was previously owned by Fin.Part Group, a holding company of Fin.Part S.p.A. which declared bankruptcy in October of 2005.
About Coraline and JH Partners LLC
Coraline was formed expressely for this transaction almost a year ago, and it is controlled by JH Partners. JH Partners is a San Francisco based private equity firm focused on investments in growth-oriented middle market consumer products and services companies. The firm distinguishes itself among private equity firms in that each of its principals has senior-level operating experience building middle-market consumer related businesses. JH Partners has been instrumental in aiding the growth of powerful consumer brands, including Peet’s Coffee & Tea, Bare Escentuals, Performance Bicycle Shop, Bell Helmets, and Design Within Reach, among others. Additional information may be found at www.jhpartners.com.
SCOTTSDALE, Ariz. – October 31, 2005 – Bell Automotive Products, Inc. (“Bell Automotive” or the “Company”) today announced it has acquired Victor Products (“Victor”), a division of Barjan Products, L.L.C.
Following the close of the transaction, the Victor® and Monkey Grip® product lines, which include tire repair kits, gauges, sealants and other automotive related products, will be integrated into the Bell family of products.
“Victor and Monkey Grip are outstanding brands that are highly complementary to Bell Automotive’s existing product line-up,” said Tim Brasher, Chief Executive Officer of Bell Automotive. “We see significant opportunities to further elevate the brand while increasing sales and achieving greater efficiencies by integrating these lines into Bell.”
Bell Automotive is a leading supplier of automotive convenience accessories, such as air fresheners, seat and steering wheel covers and other products which are sold at major nationwide retailers such as Wal*Mart, Target and major automotive supply chains. The company is wholly owned by management and JH Partners LLC, a San Francisco-based private equity firm.
“Victor is a terrific addition to Bell Automotive, which continues to deliver impressive results under the leadership of Terry Lee, Mary George and Tim Brasher,” said Pat Collins of JH Partners. “We’re always pleased to assist our partner companies grow both organically and opportunistically through value-creating acquisitions such as Bell’s purchase of Victor.”
In December of 2004 JH Partners teamed up with management to acquire Bell Automotive. The senior debt financing for the purchase of Victor was underwritten by Harris Trust and Savings Bank and Harris’ mezzanine fund, Harris Nesbitt Capital, led the subordinated debt financing for the transaction. Harris Nesbitt Corp. advised Bell Automotive and JH Partners on the transaction.
About Victor Products
Victor Products, based in Des Plaines, Illinois, is a marketer and packager of automotive accessories, parts and supplies for mass merchants and specialty automotive retailers. The company’s products are marketed under the Victor® and Monkey Grip® brands and include tire repair kits, gauges, plugs, patches and hardware as well as sealants and other automotive related products.
About Bell Automotive
Bell Automotive Products, Inc., based in Scottsdale, Arizona, is a leading supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products. A dedicated focus on automotive accessories has yielded an unparalleled reputation for quality, innovation and customer service. The company’s broad line of convenience accessories is marketed under the well-recognized Bell and Cobbs brand names at leading retailers such as Wal*Mart, Target, K-Mart, Fred Meyer, Autozone, Pep Boys, CSK and Canadian Tire. Bell Automotive is one of several in the Bell family of consumer products companies.
San Francisco, CA – October 10, 2005 – Private equity firms Berkshire Partners LLC and JH Partners LLC today announced the $408 million recapitalization of MD Beauty, Inc., the market leader in mineral-based cosmetics.
“We are pleased to be able to use this recapitalization transaction to return value to investors so they may share in the company’s successes to date,” said Ross M. Jones, Managing Director at Berkshire Partners.
“MD Beauty is an exceptional company,” said John Hansen, President of JH Partners. “We remain fully committed partners, working closely with management to continue the success MD Beauty has experienced since we first invested 15 years ago.”
Today’s transaction is MD Beauty’s third recapitalization in the last two years. In June 2004, Berkshire Partners and JH Partners together led a recapitalization in which both firms made substantial equity investments. In February 2005 Berkshire Partners and JH Partners recapitalized the company, returning 100% of the equity capital invested in the June transaction. As part of today’s recapitalization, both firms returned to their investors an additional approximately 145% of the equity capital invested in the June transaction, bringing the total capital returned to approximately 245% of capital invested.
The senior debt financing for the recapitalization was led by BNP Paribas. The transaction closed on October 7.
About MD Beauty
Headquartered in San Francisco, California, MD Beauty is one of the fastest growing personal care companies in the U.S. The company is a marketer of branded cosmetics and skin care products focused primarily within the health and beauty and the cosmeceutical markets. MD Beauty markets products under a portfolio that consists of recognized brands such as Bare Escentuals, including its i.d. bareMinerals line, and md formulations. The Company markets its brands through direct response television (both long form infomercials and QVC), company owned boutiques, premium wholesale accounts, such as Ulta and Sephora, and spas and salons. Additional information regarding MD Beauty may be found at www.bareescentuals.com.
SAN FRANCISCO – July 20, 2005 -- Today JH Partners LLC, a private equity firm based in San Francisco, announced it has invested in VIOlight, Inc. maker of the VIOlight Toothbrush Sanitizer & Storage System, a revolutionary consumer product utilizing an ultraviolet (UV) bulb to eliminate germs and bacteria in toothbrushes.
“VIOlight’s innovative and differentiated product is well positioned to capitalize on the growing market for oral health products,” said Pat Collins of JH Partners.
“The ample opportunities to grow VIOlight’s distribution channels and broaden the application of its technology make it a particularly attractive investment and a good fit for our strategy.”
“We’re excited to be working with Joel Pinsky, VIOlight’s founder, to help the company maximize its growth potential,” added Mr. Collins.
“JH Partners provides investment capital to help accelerate VIOlight’s growth, and even better, their talented team, with many years of hands-on operating experience, will help guide our business going forward," said Joel Pinsky, founder of VIOlight.
“Our new relationship with JH Partners puts VIOlight on a fast-track to create a whole new category in oral hygiene, and to create safe, effective UV-based appliances for every part of the health-conscious home.”
Mr. Pinsky founded the company to fill an important unmet need in the oral hygiene market. Toothbrushes harbor millions of microorganisms that translate into harmful bacteria that cannot simply be rinsed away with water. The VIOlight product not only eliminates up to 99.9 percent of toothbrush germs in ten minutes, but it also uses UV light rather than heat or steam which is much safer, and easy to use. In addition, VIOlight is compact and carries a sleek, versatile design by Philippe Starck.
The terms of the transaction were not disclosed.
About VIOlight
VIOlight, based in Elmsford, New York, offers consumers the VIOlight Toothbrush Sanitizer & Storage System, a revolutionary product utilizing an ultraviolet (UV) bulb to eliminate germs and bacteria in toothbrushes. Laboratory tests show the technology eliminates up to 99.9% of toothbrush germs, safeguarding the whole family from harmful bacteria and cross contamination. The sleek, unobtrusive Philippe Starck design is a welcome addition to anyone’s bathroom. VIOlight was a Gold Winner of BusinessWeek’s Industrial Design Excellence Award in 2005, was listed as one of Time Magazine’s “Coolest Inventions of the Year” in 2004, and has been featured on television programs ranging from CNN to The Ellen DeGeneres Show. Additional information may be found at www.violight.com.
SAN FRANCISCO, CA – March 18, 2005 -- JH Partners LLC, a private equity firm based in San Francisco, announced its participation with management in the recapitalization of AmeriMark Direct, a 36-year-old Cleveland-based leading direct marketer of women’s apparel, cosmetics, jewelry and health-related products.
Gary Giesler, AmeriMark’s chairman and former controlling shareholder, will continue as chairman and chief executive officer. Members of senior management will remain investors in the company.
“AmeriMark is a well-established company with a solid customer base and innovative marketing strategies,” said John Hansen, President of JH Partners. “The company’s broad merchandise offerings are targeted toward an attractive customer. We look forward to working with Gary and his team.”
“AmeriMark’s new partners will be especially valuable during this next stage of our company’s growth, as we add new catalogs and broaden our customer base,” said Giesler. “The team at JH Partners knows the direct marketing business well, and has a strong track record of working with management teams to deliver durable equity value.”
AmeriMark is the latest in a series of investments JH Partners has made in direct marketing companies. JH Partners is also an investor in CHEF’s Catalog, a marketer of top-quality cooking equipment, which it acquired from The Neiman Marcus Group, Inc. in November 2004. Previously, JH Partners also invested in Walter Drake, a Colorado Springs-based general merchandise catalog company that it sold in December 2003.
About AmeriMark
AmeriMark Direct is a leading direct marketer of women's apparel, name brand cosmetics and fragrances, jewelry, watches and accessories, and health related merchandise. AmeriMark sells its merchandise through several distinctive catalogs, which include: Anthony Richards, Beauty Boutique, Complements, Healthy Living, Windsor Collection and its most recently launched titles Essentials and Time for Me. AmeriMark also offers memberships in the Passport to Savings and Passport to Health discount buying programs. In business for over 36 years, AmeriMark ships millions of packages to its satisfied customers each year.
SAN FRANCISCO, CA - March 11, 2005 (SAN FRANCISCO CHRONICLE) -- New York is a long way from chef Michael Chiarello's family gardens in Turlock. It's a trip he's hoping to make now that his television show, "Easy Entertaining With Michael Chiarello," has been nominated for two daytime Emmys -- one that puts Chiarello in the running for best host.
(complete story found on our website)
SAN FRANCISCO, CA - March 09, 2005 (BUSINESS WIRE) -- Design Within Reach, Inc. (NASDAQ:DWRI) announced today the pricing of its secondary public offering of 1,800,000 shares of its common stock at a price of $15.80 per share. Of the shares offered, 1,700,000 are being offered by certain selling stockholders and Design Within Reach, Inc. (the "Company") is offering 100,000 shares. Certain of the selling stockholders have granted to the underwriters a 30-day option to purchase up to an additional 270,000 shares at the secondary public offering price to cover over-allotments, if any. The principal purpose of the offering is to increase the Company's outstanding public float and reduce the overhang of stock held by its private investors and management.
The offering was made through an underwriting syndicate led by CIBC World Markets Corp., as the lead manager, and William Blair & Company, SG Cowen & Co. and Thomas Weisel Partners LLC, as co-managers.
Copies of the prospectus relating to the offering may be obtained from CIBC World Markets Corp., 300 Madison Avenue, New York, N.Y. 10017, by fax at 212-667-6136 or by e-mail at useprospectus@us.cibc.com.
About Design Within Reach, Inc.
Design Within Reach, Inc., founded in 1998 and headquartered in San Francisco, is an integrated multi-channel provider of distinctive modern design furnishings and accessories. The Company markets and sells its products to both residential and commercial customers nationwide through the DWR catalog, studios, website and direct sales force.
SAN FRANCISCO, CA - February 22, 2005 – Private equity firms Berkshire Partners LLC and JH Partners LLC today announced the close of a $240 million recapitalization of MD Beauty, Inc., one of the fastest growing personal care companies in the U.S.
“We are delighted with the progress management is making at MD Beauty," said Ross M. Jones, Managing Director at Berkshire Partners. “This recapitalization positions the company well and returns value to investors. We remain committed to building this exciting industry-leading company.”
“MD Beauty continues to deliver exceptional growth in the rapidly growing market for mineral-based cosmetics and cosmeceuticals,” said John Hansen, President of JH Partners. “For fifteen years, we’ve partnered with management to help the company to develop strong brands, recruit top management, and execute a multi-channel distribution strategy. It’s a great company and an excellent investment.”
“MD Beauty’s innovative products have forever changed the cosmetics and skin care market,” said MD Beauty President and CEO Leslie Blodgett. “We continue to experience tremendous growth as we reach new customers through an expanding number of distribution channels. We appreciate the continued support of both Berkshire Partners and JH Partners.”
Today’s transaction is MD Beauty’s second recapitalization in less than a year following the Company’s continued rapid growth. In June 2004 Berkshire Partners and JH Partners together led a recapitalization in which both firms made substantial equity investments and which made Berkshire Partners an equal partner with long-time investor JH Partners. As part of today’s recapitalization, both firms returned to their investors 100% of the capital invested in the June transaction.
The senior debt financing for the recapitalization was led by BNP Paribas and York Street Capital Partners provided the subordinated debt.
About MD Beauty
Headquartered in San Francisco, California, MD Beauty is one of the fastest growing personal care companies in the U.S. The company is a marketer of branded cosmetics and skin care products focused primarily within the health and beauty and the cosmeceutical markets. MD Beauty markets products under a portfolio that consists of recognized brands such as Bare Escentuals, including its i.d. bareMinerals line, and md formulations. The Company markets its brands through direct response television (both long form infomercials and QVC), 23 company owned boutiques, premium wholesale accounts, such as Ulta and Sephora, and spas and salons. Additional information regarding MD Beauty may be found at www.bareescentuals.com.
About Berkshire Partners
Berkshire Partners has invested in mid-sized private companies for the past twenty years through six investment funds with aggregate capital commitments of approximately $3.5 billion. The firm’s investment strategy is to seek companies that have strong growth prospects and to partner with talented management teams who are interested in being owners of the companies they operate. Berkshire has developed specific industry experience in several areas including consumer products, industrial manufacturing, transportation, communications, business services, and retailing and related services. Berkshire has been an investor in over 80 operating companies with more than $12.0 billion of acquisition value and combined revenues in excess of $15.0 billion. Additional information may be found at www.berkshirepartners.com.
SAN FRANCISCO – December 20, 2004 -- Financially troubled Italian Public company Fin.part has finalized a deal to lease out and sell home linen business Frette. Fin.part said it will lease Frette's assets to Coraline SpA, a special-purpose vehicle controlled by U.S. private equity fund JH Partners LLC. Financial terms were not disclosed. Coraline, which will work to develop Frette's business, also will have an option to buy the linens manufacturer. Enrico Marinelli, who was chief executive officer of Frette between 1997 and 1999, will become CEO of Coraline and therefore the executive running Frette.
SAN FRANCISCO, CA – December 15, 2004 -- JH Partners LLC, a San Francisco-based private equity firm, today announced the closing of its first institutional fund totaling $200 million. The nation’s five largest endowments – Harvard Management Company, MIT, Princeton University Investment Company, Stanford Management Company and Yale University – are the institutions that committed capital to the fund.
“The addition of institutional equity partners to our existing investor group represents the next stage in our firm’s growth and development. We are pleased to partner with such distinguished institutions whose long-term investment objectives are closely aligned with our own,” said John Hansen, President of JH Partners.
Since 1986, the firm’s principals have made more than 30 investments, representing approximately $190 million of invested capital, in a strategy to build durable equity value in growth-oriented consumer and marketing-driven companies. JH Partners and its principals have played an instrumental role in the growth of such powerful and well known consumer brands as Peet’s Coffee & Tea, Bare Escentuals, Performance Bicycle Shop, Bell Helmets and Design Within Reach.
“Our investment strategy will remain the same, with a focus on consumer products and services businesses in the lower end of the middle market, particularly in situations where the operating experiences of our own professionals can add value to the enterprise.” said Hansen.
“We believe JH Partners employs a proven and disciplined strategy in helping middle market companies along the consumer continuum expand and accelerate their profitability,” said Philip Rotner, Managing Director of Private Equity for MIT.
"We believe that JH Partners represents a rare combination of domain expertise and investment skill that should provide the foundation for a firm of excellence,” said Daniel Feder, Managing Director of Private Equity for Princeton University Investment Company.
“JH Partners' unique and differentiated investment strategy and superior management skills have created tremendous value in the industry niches in which the firm is active,” added David Burke, Managing Director of Private Equity for the Stanford Management Company.
JH Partners specializes in lower middle market companies with revenues of $10 million to $150 million. The firm has deep, hands-on operating experience and works closely with the management of its partner companies to create value through organic growth, rather than simply financial engineering or acquisitions.
Over the past year, the firm made a number of new investments. JH Partners also announced several liquidity events, which returned approximately $360 million on invested capital of $40 million. In December 2003, JH Partners completed the sale of Walter Drake, a catalog retailer of household goods, to Blythe, Inc. In June, the firm and Berkshire Partners LLC recapitalized MD Beauty, a company in which the firm’s partners have played an active role for more than a decade, and today is one of the fastest growing personal care companies in the U.S.
JH Partners is also the sole private equity investor in Design Within Reach, Inc. and among the largest investors in PlanetOut Inc., both of which went public this year. These were two of the Top 10 best performing initial public offerings in the San Francisco Bay Area for 2004. In November, JH Partners – along with management – purchased CHEF’s, a catalog company offering top-quality cooking equipment, from Neiman Marcus. Earlier this month, JH Partners and company management announced the acquisition of Bell Automotive, a leading supplier of automotive accessories.
Key sub-segments in which JH Partners has invested successfully include: personal care, food and beverage, home furnishings, and lifestyle products and services.
SAN FRANCISCO, CA – December 6, 2004 -- Today JH Partners LLC, a San Francisco-based private equity firm, announced it partnered with management to acquire Bell Automotive Products, Inc. (“Bell Automotive” or the “Company”) from Brentwood Associates, a Los Angeles-based private equity firm, for approximately $60 million. Based in Scottsdale, Arizona, Bell Automotive is a leading supplier of automotive convenience accessories, such as air fresheners, seat and steering wheel covers and other products which are sold at major nationwide retailers such as Wal*Mart, Target and major automotive supply chains.
JH Partners teamed up with one of its senior operating partners, Terry Lee, to acquire the Company. Lee is currently Co-Chairman of Bell Automotive, a role he shares with his long time business partner Mary George, and will continue to play an active role in the company. Mr. Lee previously served as Chairman, CEO and COO of Bell Sports, another consumer products company in the Bell family, whose revenues grew from $28 million to $207 million during his tenure. Ms. George is also a former CEO and COO of Bell Sports. At Bell Sports, Lee worked extensively with John Hansen, President of JH Partners, who was responsible for an equity investment in that company.
“As a branded consumer products company with superior growth in a highly fragmented industry, Bell Automotive is a natural fit for JH Partners,” said Hansen. “We’re very pleased to partner with Terry Lee and Mary George, under whose leadership the Company’s growth continues to outpace that of the industry.”
“JH Partners brings significant industry experience, and John Hansen and I have worked closely in the past,” said Lee. “Our partnership with JH Partners will help Bell Automotive continue to build out its line of auto accessory products, and increase shelf space at the nation’s leading retail stores.”
The company will continue to be headquartered in Scottsdale, Arizona with a distribution center in Des Moines, Iowa. The senior debt financing was underwritten by Harris Trust and Savings Bank and Harris’ mezzanine fund, Harris Nesbitt Capital, led the subordinated debt financing for the transaction.
About Bell Automotive
Bell Automotive Products, Inc., based in Scottsdale, Arizona, is a leading supplier of automotive convenience accessories, which include air fresheners, drink holders, cargo racks, cell phone accessories, license plate frames, seat and steering wheel covers and other products. A dedicated focus on automotive accessories has yielded an unparalleled reputation for quality, innovation and customer service. The company’s broad line of convenience accessories is marketed under the well-recognized Bell and Cobbs brand names at leading retailers such as Wal*Mart, Target, K-Mart, Fred Meyer, Autozone, Pep Boys, CSK and Canadian Tire. Bell automotive is one of several in the Bell family of consumer products companies.
SAN FRANCISCO, CA – November 8, 2004 -- Today JH Partners LLC, a private equity firm based in San Francisco, announced the acquisition of CHEF’s Catalog, Inc. (“CHEF’s” or the “Company”), a subsidiary of The Neiman Marcus Group, Inc. (NYSE:NMG.A, NMG.B), which markets top-quality cooking equipment to home chefs and culinary experts.
To facilitate the transaction, JH Partners teamed up with direct mail veteran Jon Medved to form a wholly owned corporation, Pikes Peak Direct Marketing Inc. (“Pikes Peak”), which acquired the CHEF’s subsidiary.
Medved will serve as the chief executive officer of Pikes Peak. Medved has over 30 years of experience in the direct mail business, most recently serving as CEO of Walter Drake, a former JH Partners portfolio company.
“The CHEF’s business is an attractive opportunity for JH Partners and our investors, and is consistent with our investment focus on growth-oriented middle market consumer products and services companies,” said John Hansen, President of JH Partners. “We have worked closely with Jon Medved and his team in the past, and believe we bring the right mix of capital, management and operational expertise to help CHEF’s realize its full potential.”
The terms of the deal were not disclosed. Elixir Advisors advised The Neiman Marcus Group, Inc. in the transaction.
About CHEF’s Catalog, Inc.
Founded in 1979, CHEF'S quickly became the leading catalog retailer of top-quality cooking equipment at exceptional values, both for home chefs and culinary professionals. In print and online, CHEF'S offers the best products for the kitchen from the world's top brands, including All-Clad, Cuisinart, Henckels, KitchenAid, Le Creuset, and Wusthof. CHEF'S was acquired by The Neiman Marcus Group, Inc. in 1998 and has since operated as a wholly owned subsidiary and part of The Neiman Marcus Group’s catalog and e-commerce division.
SAN FRANCISCO, CA - June 11, 2004 - JH Partners, a San Francisco-based private equity firm focused on the consumer products and services industry, today announced the close of MD Beauty, Inc.’s recapitalization, a transaction it co-sponsored with Boston-based private equity group Berkshire Partners.
A JH Partners portfolio company, MD Beauty Inc. is one of the fastest growing personal care companies in the U.S. with a line of recognized brands that includes Bare Escentuals cosmetics and md formulations skin care products.
"MD Beauty has been a superb investment for JH Partners and our investors for more than a decade," said John Hansen, President of JH Partners. "We’ve chosen to reinvest in this company because of its strong brands, proven management, large markets and multi-channel distribution strategy. We also believe the business will continue its rapid growth-all of these characteristics define the ideal JH Partners' investment."
In 1990, John Hansen, President of JH Partners, purchased Bare Escentuals, a leading mineral-based cosmetics company, and in 1999 JH Partners purchased MD Formulations, a leading cosmeceuticals firm. JH Partners merged the two companies in 2001 to form MD Beauty, maintaining majority ownership.
"We are pleased to co-sponsor this recapitalization with Berkshire Partners, who will add substantial consumer and investment expertise to the ownership group to aid MD Beauty's next phase of growth," Hansen added.
"MD Beauty has consistently created innovative products for a diverse and growing customer base," said Ross M. Jones, Managing Director at Berkshire Partners. "We consider ourselves very fortunate to be investing at this exciting stage of the Company’s life."
"Over the past decade, John and his team at JH Partners have played an integral role in the development and growth of MD Beauty, providing not just financial capital, but human capital through their operational expertise," said MD Beauty President and CEO Leslie Blodgett. "We've rapidly increased sales of our cosmetics and skin care products, significantly improved margins and moved into several additional distribution channels. We believe this recapitalization sets the stage for the next round of growth at MD Beauty."
The senior debt financing for the recapitalization was led by BNP Paribas and Gleacher Mezzanine LLC and York Street Capital Partners provided the mezzanine debt. CIBC World Markets advised MD Beauty in the transaction.
About MD Beauty
Headquartered in San Francisco, California, MD Beauty is one of the fastest growing personal care companies in the U.S. The company is a marketer of branded cosmetics and skin care products focused primarily within the health and beauty and the cosmeceutical markets. MD Beauty markets products under a portfolio that consists of recognized brands such as Bare Escentuals, including its i.d. bareMinerals line, and md formulations. The Company markets its brands through direct response television (both long form infomercials and QVC), 19 company owned boutiques, premium wholesale accounts, such as Ulta and Sephora, and spas and salons. Additional information regarding MD Beauty may be found at www.bareescentuals.com.