5/18/15
Lenox Corporation, a Portfolio Company of Clarion Capital Partners, Completes Add-on Acquisition of Reed & Barton Lenox Corporation, a Portfolio Company of Clarion Capital Partners, Completes Add-on Acquisition of Reed & Barton
New York, May 18, 2015 – Clarion Capital Partners, LLC (“Clarion”), a New York-based middle market private equity firm, today announced the acquisition of Reed & Barton, by Clarion’s portfolio company, Lenox Corporation (“Lenox”). Reed & Barton is one of America’s leading designers of fine tableware and metal giftware. With Reed & Barton’s complementary brands and products, the combination expands Lenox’s position as America’s leading tableware, giftware, and home entertaining business.
The renowned Reed & Barton brand, which Lenox will integrate into its family of brands, has a 190-year-old legacy of superior design and craftsmanship. Reed & Barton will continue to design and market a broad assortment of unique giftware, including picture frames, children’s gifts, crystal and metal serveware, Christmas ornaments and hardwood chests.
“We are thrilled to welcome Reed & Barton into Lenox’s family of prominent brands,” states Peter Cameron, Chief Executive Officer of Lenox. “As an American company steeped in tradition, we are pleased to expand on the history, knowledge and craftsmanship of such an iconic brand.”
Tom Goundrey, Managing Director of Clarion Capital Partners adds “The Reed & Barton acquisition is highly complementary to Lenox’s portfolio of iconic American brands, and we are delighted to continue the rich Reed & Barton legacy. Under Lenox’s stewardship, management will bring meaningful resources to Reed & Barton to expand its market position.”
To learn more about our team’s approach and portfolio companies please log onto our website at www.clarion-capital.com.
About Lenox Corporation
Lenox Corporation is the market leader in quality tabletop, giftware and collectibles. The company markets its products under the Lenox, Donna Karan Lenox, DKNY Lenox, Marchesa by Lenox, kate spade new york, Aerin for Lenox, Dansk and Gorham brands. Lenox is the market destination for bridal, entertaining and gift giving for all occasions.
About Reed & Barton
Reed & Barton is one of the country’s foremost designers and marketers of fine tableware and giftware. The company’s products include a diverse range of flatware, crystal stemware, barware, metal serveware and numerous tabletop and home decor items designed for stylish entertaining. The Reed & Barton name also adorns a full complement of giftware, including picture frames, children’s gifts, hardwood chests and other fine wood and leather creations. Reed & Barton products can be found in fine department stores, specialty gift shops and jewelry stores nationwide, as well as online through a variety of e-retailers. Visit www.reedbarton.com for more information.
About Clarion
Founded in 1999, Clarion is a New York-based investment manager operating two primary business segments: Private Equity (launched in 1999) and Structured Credit (launched in 2018). Clarion’s private equity business seeks to make primarily control investments in a diversified portfolio of lower middle-market companies generating $7.5-30.0 million of EBITDA. Clarion focuses on growth companies in industries such as: Media, Entertainment & Technology; Financial Technology & Services; Business & Healthcare Services; and Consumer & Consumer Services. Clarion’s structured credit business focuses mostly on CLO equity and mezzanine investments, sourced both in the primary and secondary markets. The structured credit team manages traditional private funds and an insurance-dedicated fund. Additional information on Clarion can be found at www.clarion-capital.com.