Investcorp has acquired Paper Source, a multi-channel retailer offering a 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 have not been disclosed.
Catering to customers seeking innovation and original designs, Paper Source sells a unique selection of fine and artisanal papers, invitations and announcements, personalised 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, says: “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,” says Sally Pofcher, chief executive 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 acted as financial advisor, and Gibson, Dunn & Crutcher acted as the legal advisors.
