Investcorp acquires Paper Source, Inc.
NEW YORK, Sept. 24, 2013 /PRNewswire/ -- Investcorp, a leading provider and manager of alternative investment products, announced today that it has acquired Paper Source, Inc., the premier multi-channel retailer offering a premium selection of uniquely designed and curated gifts, stationery and crafting supplies. Investcorp purchased Paper Source from Brentwood Associates, a Los-Angeles-based private equity firm. Terms of the transaction were not disclosed.
Catering to customers seeking innovation and original designs, Paper Source sells a unique selection of fine and artisanal papers, invitations and announcements, personalized and distinctive gifts, gift wrap, greeting cards, custom stamps, and a custom collection of envelope and cards through its company-owned retail stores. Headquartered in Chicago, Illinois, Paper Source operates 73 stores across 23 states.
Kevin Nickelberry, a Managing Director at Investcorp said: "Paper Source is a market-leading retailer with a differentiated product offering and exceptional customer service. We look forward to working with Sally Pofcher and the Paper Source team as they seek to continue to grow the Company's store base and e-commerce presence."
"Investcorp is a highly complementary partner for Paper Source, with a track record of growing strong retail brands," commented Sally Pofcher, CEO of Paper Source. "This transaction provides us with a deep capital base to expand our domestic footprint and pursue direct marketing opportunities, as well as a partner that has an established reputation for working effectively with management teams."
Morgan Joseph TriArtisan LLC acted as financial advisor, and Gibson, Dunn & Crutcher LLP acted as the legal advisors.
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, London, Bahrain and Saudi Arabia. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2013, Investcorp had $10.5 billion in total assets under management. Further information is available at www.investcorp.com.