Los Angeles Investor Buys Stake in Sundance Catalog
Los Angeles–based private-equity investment firm Brentwood Associates acquired a majority stake in Sundance Holdings Group LLC from SharehACI Capital and Webster Capital, which will retain a minority ownership stake.
President and Chief Executive Officer Matey Erdos will continue to lead the company, which produces the Sundance Catalog, founded in 1989 by Robert Redford and headquartered in Salt Lake City.
Today, the Sundance Catalog—which is a sister brand to the Sundance Channel, the Sundance Institute, Sundance Cinemas and the Sundance Resort—offers a mix of clothing, jewelry, accessories and home décor through its catalog, website (www.sundancecatalog.com), outlet stores, and retail stories, located in Corte Madera, Calif., and Denver.
The acquisition by Brentwood Associates was partly funded by senior and subordinated debt. OneWest Bank, FSB is serving as administrative agent for the senior credit facility, and GarMark Partners provided the subordinated debt.
“We see tremendous opportunity in the Sundance Catalog’s direct-to-consumer channels as management is in the early stages of leveraging a vast e-commerce toolset to more effectively serve their customers,” said William Barnum Jr., a partner at Brentwood and co-founder of the firm’s private-equity effort, in a statement. “Furthermore, we believe the company’s retail strategy represents a significant growth opportunity and an additional path to deeper brand penetration.”—A.A.N.
