The Jordan Company, L.P. (“TJC”), a New York-based private equity firm, has agreed to sell TKE Holdings, Inc. (“Dimora Brands”, “Dimora”, or the “Company”), a leading provider of branded specialty hardware and home accessories, to Clearlake Capital Group L.P. (“Clearlake”). Dimora’s existing management team, led by CEO Greg Gottlieb, will continue to lead the Company. Financial terms of the transaction were not disclosed.
Headquartered in Dallas, Texas, Dimora Brands is a market leading designer, manufacturer, and seller of high-end hardware and home accessories. Dimora’s broad product portfolio puts the Company’s products in a substantial portion of a customer’s home through kitchen, bathroom and closet offerings. Dimora is able to successfully service both small and large customers through a high-touch direct sales model along with industry leading fill rates. The intimate relationship with customers allows the Company to stay in front of evolving industry trends and focus on new product development.
“Our team is thankful for the opportunity to partner with The Jordan Company for the past four years,” said Gottlieb. “With their guidance and support, Dimora Brands has continued its growth into a leader in kitchen and bath products. We expect to enjoy the benefits of Clearlake’s deep experience in building products and their insights into operational excellence as we continue to build on our successes.”
Mike Denvir, Partner of TJC, commented: “Greg and the rest of the team at Dimora have been incredible partners with us for nearly five years. They have created a growth-oriented business model and a team culture unrivaled in their industry. They are proven winners and we are excited to see them continue to grow and evolve in partnership with Clearlake.”
The transaction is expected to close in December subject to customary closing conditions. Baird served as financial advisor to Dimora and Nomura Securities Co. served as an advisor to the Board of Directors. Winston & Strawn LLP served as legal counsel to Dimora.