Key Takeaways
- • Nexus Capital Management, a Los Angeles-based alternative asset manager, has completed its acquisition of CW Holdings, parent of women's apparel brands Coldwater Creek and Soft Surroundings, from Newtimes Group; terms were not disclosed.
- • Coldwater sells women's clothing and lifestyle products to customers aged 45 and older through websites and catalogs, operating as a single direct-to-consumer platform after the two brands were combined in 2023.
- • Nexus partner Jonathan Whitlock said the firm plans to partner with Coldwater management on growth, while CEO David Walde said investment will continue in product, customer experience and customer acquisition.
- • Paul, Weiss and Robert W. Baird advised Nexus; Greenberg Traurig and The Sage Group advised Coldwater.
Summary
Nexus Capital Management, a Los Angeles-based alternative asset management firm, has completed its acquisition of CW Holdings, the parent company of women's apparel brands Coldwater Creek and Soft Surroundings, from Newtimes Group. The purchase price was not disclosed.
Jonathan Whitlock, a partner at Nexus, said the firm was impressed by what the Coldwater team has built and plans to work with management on growth. The transaction positions Nexus as the new owner of a brand portfolio focused on women's clothing and lifestyle products sold through websites and catalogs to women aged 45 and older.
The two brands were combined in 2023 into a single direct-to-consumer platform with a loyal base of repeat customers. Coldwater Creek was founded in Sandpoint, Idaho, in 1984, and Soft Surroundings was founded in St. Louis in 1999. The company is headquartered in Fort Lauderdale, Florida, with offices in St. Louis and Boston.
CEO David Walde said the company will continue investing in product, customer experience and customer acquisition. Paul, Weiss and Robert W. Baird advised Nexus on the deal, while Greenberg Traurig and The Sage Group advised Coldwater.
Jonathan Whitlock, a partner at Nexus, said the firm was impressed by what the Coldwater team has built and plans to work with management on growth. The transaction positions Nexus as the new owner of a brand portfolio focused on women's clothing and lifestyle products sold through websites and catalogs to women aged 45 and older.
The two brands were combined in 2023 into a single direct-to-consumer platform with a loyal base of repeat customers. Coldwater Creek was founded in Sandpoint, Idaho, in 1984, and Soft Surroundings was founded in St. Louis in 1999. The company is headquartered in Fort Lauderdale, Florida, with offices in St. Louis and Boston.
CEO David Walde said the company will continue investing in product, customer experience and customer acquisition. Paul, Weiss and Robert W. Baird advised Nexus on the deal, while Greenberg Traurig and The Sage Group advised Coldwater.
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