Gordon Brothers, the global asset experts, provided strategic private credit financing to support Middle West Partners’ (MWP) acquisition of Paul Stuart, a New York-based luxury brand famous for its suits, dress apparel, sportswear, footwear and accessories.
The revolving line of credit both funded the acquisition and will provide working capital to support further investments in the brand. In addition, Carolyn D’Angelo, senior managing director, head of brand operations at Gordon Brothers, will serve on the newly established Paul Stuart advisory board to provide ongoing support for brand growth and development, and the firm will be engaged for advisory service work.
“We were proud to support MWP in the acquisition of Paul Stuart,” D’Angelo said. “Gordon Brothers was uniquely positioned to provide flexible, swift financing alongside our strong expertise within the brand space to support their efforts to build upon its core brand identity and growth trajectory.”
The firm previously provided MWP $30 million in financing and advisory work to support the private equity firm’s majority stake acquisition of the luxury jewelry brand David Webb.
“Partnering with Gordon Brothers again as we continue to expand our portfolio of companies was an obvious choice,” Kevin Kelleher, managing partner at MWP, said. “The firm’s vast experience in brand growth and unrivaled approach to providing tailor-made financing solutions allowed us to quickly and successfully complete this deal while ensuring the Paul Stuart brand remains an American icon.”
Kyle Shonak, chief transaction officer, North America at Gordon Brothers, said, “Teaming with sponsors who are looking for asset intelligent capital is the core of what we do and enables us to ensure maximum liquidity and flexibility for our clients so they can be best equipped for the opportunities and challenges that come with larger complex transactions.”
