Saturday, 28 March 2015
Last updated 20 hours ago
Oct 24 2013 | 9:39am ET
A countercultural icon is set to join private-equity firm Permira's portfolio.
The London-based firm has agreed to acquire the R. Griggs Group, makers of the famed Dr. Martens boots. Permira will pay £300 million (US$485 million) for the business, which has been family-owned since its founding in 1901.
The boots, famed for their cushioned soles, have been popular with succeeding waves of youth subcultures, including punks in the 1970s and 1980s and fans of grunge rock in the 1990s. Now, they join a portfolio that includes such high-end fashion names as Hugo Boss and New Look; Permira sold Valentino last year.
"The Permira funds have extensive expertise in backing global brands, as demonstrated with Hugo Boss and Valentino, and we are looking forward to supporting the management team in this exciting next phase of the company's development," Permira consumer chief Cheryl Potter said.
"The Permira funds respect that heritage, and want to support the management team in nuturing it," Dr. Martens CEO David Suddens said.
The deal is expected to close in January.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…