A private equity sponsor group led by JH Partners and the Highland Consumer Fund, is acquiring a majority interest in J McLaughlin. The existing management team, which includes co-founders and brothers Jay McLaughlin and Kevin McLaughlin, as well as Steven Siegler, CEO, will continue in its current role and will retain a minority interest in the business moving forward.
Headquartered in Brooklyn, New York, clothing retailer J McLaughlin, which only sells its own designs, currently has 52 stores in 18 states across the Eastern half of the United States.
"We are delighted to make this investment in J McLaughlin. Its unique approach to retailing, differentiated merchandise offering, neighbourhood stores and high-touch customer service appeal to consumers in a way we have not seen before," says Jeff Hansen, a Partner at JH Partners who will join J.McLaughlin’s Board of Directors.
"Led by an exceptional management team, the company has a record of rapid growth and we see significant opportunity for continued expansion," says Tom Stemberg, a Managing General Partner of the Highland Consumer Fund and founder and former CEO of Staples.
"J McLaughlin’s niche is American prep, rooted in a strong understanding of the history of American sportswear," says Kevin McLaughlin.
"We are committed to maintaining the brand’s connection to its customers and to providing the compelling merchandise and one-of-a-kind in-store experiences J McLaughlin is best known for," says Jay McLaughlin.
"Our new partners have a proven track record building brands and will be instrumental as we continue to expand our retail footprint and E-commerce presence," says Steven Siegler.
"JH Partners appreciates our heritage and shares our vision to expand our brand to consumers across the United States and internationally," added says McLaughlin.