Fixtures Living Accelerates Growth with Investment from Leading Consumer-focused Private Equity Firm Catterton Partners
SAN DIEGO, March 1, 2013 /PRNewswire/ -- Fixtures Living (the "Company"), a fast growing retail concept specializing in providing customers a tailored assortment of premium lifestyle products for the home, today announced a strategic partnership with Catterton Partners, the leading consumer-focused private equity firm. The strategic partnership endorses the remarkable growth potential of Fixtures Living and is designed to support the expansion of the Company throughout the United States. Terms of the transaction were not disclosed.
Founded in 2009, Fixtures Living carries a select array of best-in-class products for indoor and outdoor living spaces -- kitchens, laundry rooms, and bathrooms. Unlike typical industry showrooms, Fixtures Living stores invite consumers to enjoy a 360 degree sensory experience that ignites the imagination by implementing live kitchens and working bath fixtures (from decorative plumbing to entire Health and Wellness systems), and by recruiting and retaining a welcoming and knowledgeable staff who encourage guests to "Live Joyfully™." The Company currently has three experiential showrooms in Southern California and plans to expand rapidly across the U.S. over the next several years, including adding two locations later this year – one in San Diego at the Westfield UTC luxury center and one in the iconic Glendale Galleria.
Chief Executive Officer Jeffery Sears and the current management team will continue to lead the Company as it expands its presence across the country. Sears, along with co-founder and Chairman Jim Stuart, will retain a significant stake in the Company.
Sears commented, "The Fixtures Living concept has created a new way for the consumer to choose lifestyle goods for the home. Our innovative approach is embraced enthusiastically by homeowners and industry professionals who appreciate the opportunity to test-drive products in an inviting and interactive setting. This fosters a connection between the visitor and the products that helps them create the types of moments they wish to share in their homes. We look forward to working with Catterton, a partner with significant experience growing similar best-in-class retailers such as Restoration Hardware. Together, we are well-equipped to capitalize on the vast opportunity we see to fill a void in the current marketplace."
"Fixtures Living has developed a game-changing retail model," said Scott Dahnke, Managing Partner at Catterton Partners. "By delivering a full-immersion retail experience that facilitates the relationship between consumers, trade professionals, and leading brands, the Company has succeeded in creating a retail concept that is positioned to win. This concept is unlike any other that we have seen. We are excited to partner with the talented team at Fixtures Living to help the Company realize its immense potential."
Recently, Fixtures Living has received numerous awards and honors, including:
- Listed #78 on Forbes' annual ranking of "America's Most Promising Companies" (2013)
- Winner, "Best New Prototype or Reinvention of a Prototype" by Retail Traffic Magazine (2012)
- Winner, "Store Design of the Year" (Large Format) by Retail Week Magazine (2012)
- Winner, Grand Prize, "Sustainability," from the Association for Retail Environments (2012)
- Winner, Individual Element, "In-Store Communications" from the Association for Retail Environments (2012)
- Winner, Outstanding Merit, "Design," from the Association for Retail Environments (2012)
- Winner, "Retail Store of the Year" (Hard-Lines 15k-25k sf category) from Chain Store Age (2012)
- Winner, International Award of Merit, "Best Retail Concept" (Hard-Lines category) by the Retail Design Institute (2012)
- Winner, "Best in Show Worldwide: In-Store Signage and Graphics" (2012)
- LEED Silver Certification from USGBC (2012)
- Appeared as cover story or featured story in the industry's top five magazines
Valtus Capital Group acted as Valuation Advisor to Fixtures Living in connection with the transaction.
About Fixtures Living
Fixtures Living is a place for trade professionals and consumers to dream about, play with, and choose products that lead to better living. Specializing in premium lifestyle goods for the home, the store carries a hand-culled array of best-in-class brands for indoor- & outdoor-kitchens, laundry rooms and the bath, from exquisite decorative plumbing to entire Health-and-Wellness Systems. Currently in three California markets, the store will soon have a presence in the Glendale Galleria, and is poised to expand into several other major U.S. cities within the next 12 months. More information about Fixtures Living can be found at http://www.fixturesliving.com.
About Catterton Partners
With more than $3.0 billion currently under management and a twenty-three year track record of success in building high growth companies, Catterton Partners is the leading consumer-focused private equity firm. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton's investments include, among others: Restoration Hardware, Bloomin' Brands (Outback Steakhouse, Carraba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse & Wine Bar, and Roy's), Edible Arrangements, Cheddar's Casual Café, Noodles & Company, Plum Organics, Frederic Fekkai, Build-A-Bear Workshop, Kettle Foods, Odwalla, and P.F. Chang's China Bistro. More information about Catterton Partners can be found at http://www.cpequity.com.
SOURCE Catterton Partners
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