Funds managed by Blackstone Tactical Opportunities have acquired Diamonds Direct, an independent jewellery company.
Headquartered in Charlotte, NC, Diamonds Direct has a ong and well-established history in diamond sales and manufacturing. In the last seven years, the company has grown from one location in Charlotte to a multi-channel retailer with seven locations across the United States complimented by an online ecommerce storefront. Diamonds Direct’s retail locations are located in Charlotte, Raleigh, NC, Birmingham, AL, Richmond, VA, Austin, TX, with new locations opening in Oklahoma City, OK, and Charleston, SC, in early December.
“This is a very exciting day for Diamonds Direct,” says Chief Executive Officer Itay Berger. “Diamonds Direct’s partnership with Blackstone will enable us to continue to deliver unparalleled service and unbeatable prices. We are thrilled to begin a new chapter for our employees and customers with Blackstone as we enter a new phase of growth.”
“Blackstone is extremely excited to partner with Itay and the existing management team to accelerate the Company’s growth,” says Jasvinder Khaira, Managing Director of Blackstone Tactical Opportunities. “Providing capital to entrepreneurs is a hallmark of Blackstone’s growth investments and we look forward to working with the Diamonds Direct team on their continued success and growth.”
