Home Dcor, a maker of mirrored closet doors, is set to be broken up by its private equity owners, with its UK operations being sold for an estimated GBP 50 million.
US private equity firm Wellspring …
Home Dcor, a maker of mirrored closet doors, is set to be broken up by its private equity owners, with its UK operations being sold for an estimated GBP 50 million. US private equity firm Wellspring Capital Management is understood to have appointed investment bank Close Brothers to sell Home Dcor“s European operations. Information on the company will be distributed to potential buyers and a deal could be completed over the next few months. However, it is thought that for the time being that New York-based Wellspring, which manages more than USD 1 billion (GBP 512 million) in private equity funds, plans to keep Home Dcor“s US operations. People familiar with the matter thought other private equity firms would be the most likely purchasers of its European business. Home Dcor was bought by WellSpring in 2004 from Stanley Works of the US for around USD 65 million.