Irving Place Capital Announces an Investment in rag & bone
NEW YORK, January 3, 2013-- Irving Place Capital (“IPC”) announced today that it has taken a minority stake in rag & bone.
In under a decade, British CFDA-winning duo Marcus Wainwright and David Neville have established rag & bone as a critical and commercial success. Combining their English heritage with modern design, rag & bone has become synonymous with innately wearable clothing that melds classic tailoring with an edgy yet understated New York aesthetic. The company’s offering includes men's and women's apparel, footwear, and accessories collections, available through rag & bone stores as well as major department and specialty stores around the world.
“Irving Place Capital is an exciting partner for us, as they really believe in our brand. Their investment will support our continued retail growth, the expansion of our e-commerce business, and the development of our product categories,” said rag & bone’s Managing Partners Marcus Wainwright and David Neville.
“Marcus and David have built their business and brand the right way, remaining true to themselves and their company at every step. They’ve developed an exceptional brand that stands for craftsmanship, quality, and design detail,” said John Howard, CEO of IPC. “rag & bone has a visionary team, a remarkable growth trajectory, and tremendous potential to expand its footprint. We are thrilled to work with the company as it achieves its next phase of growth.”
Peter J. Solomon Company served as rag & bone’s financial advisor, and Hand Baldachin & Amburgey LLP served as the company’s legal advisor. Weil, Gotshal & Manges was IPC’s legal advisor on the transaction.
About Irving Place Capital
Irving Place Capital is a middle-market private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments in retail, consumer, industrial, and healthcare companies where it can apply its substantial operating and strategic resources and expertise to enhance value. Since its formation in 1997, Irving Place Capital has been an investor in more than 55 companies and has raised over $4 billion of equity capital, including its current $2.7 billion institutional fund. More information about Irving Place Capital is available at www.irvingplacecapital.com.
About rag & bone
rag & bone operates 11 stores worldwide, four of which are in New York City. Flagship stores are also located in Washington D.C., Boston, Dallas, London, Los Angeles, Seoul, and Tokyo. rag & bone is also available in high-end boutiques and exclusive department stores in over 39 countries worldwide. rag & bone operates an e-commerce store at www.rag-bone.com
Irving Place Capital:
Mary Zimmerman and Glen Gullickson, 212-333-3810
rag & bone:
Farrell Crowley and Jenny Gorevan, 212-278-8214
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