Caltius Structured Capital Portfolio Company Walker Edison Sold to J.W. Childs Associates
October 9, 2018
We are pleased to announce the sale of Walker Edison to J.W. Childs Associates, L.P. (“J.W. Childs”). Utah-based Walker Edison is a leading supplier of innovative, affordable home furnishings to global e-commerce platforms. Walker Edison founders Brad Bonham and Matt Davis retained a significant ownership stake in the business. In 2016, Caltius provided subordinated debt and minority equity to facilitate the management buyout of an inactive partner by Bonham and Davis.
“Caltius Structured Capital was the right partner for us over the past two years, helping us achieve tremendous growth,” said Brad Bonham, co-founder and CEO of Walker Edison. “We are very excited about our new partnership with J.W. Childs, whose operational expertise will allow us to enhance our leading market position and accelerate growth in existing and new categories.”
“We enjoyed our partnership with Walker Edison and wish the team continued success going forward,” commented Gavin Bates, Managing Director at Caltius. “The relationship we developed with Brad and the Walker Edison team and the company’s successful growth during our partnership demonstrates our approach to working with founders and entrepreneurs who seek growth capital, but do not wish to cede operational control.”
“Walker Edison has developed an impressive data-driven, design, sourcing and logistics operation, which allows for integrated partnerships with rapidly growing online e-tailers such as Amazon, Wayfair and others,” said David Fiorentino, Partner at J.W. Childs. “We are thrilled to work with management to accelerate growth and explore new opportunities.”
J.W. Childs will add operational and financial expertise to the existing Board of Directors of Mr. Bonham, Mr. Davis, and enVista CEO Jim Barnes. Phil Damiano, Operating Partner of J.W. Childs, has been appointed non-executive Chairman. Additionally, Ken Murphy, CEO of J.W. Childs portfolio company EbLens and former CEO of Mattress Firm, Adam Suttin (Managing Partner), Kyle Casella (Vice President) and Mr. Fiorentino will join the board.
About Walker Edison
Walker Edison partners with leading global e-commerce platforms to provide innovative home furnishings at affordable prices. The company utilizes a data driven approach to product development and a robust logistics and supply chain to deliver best-in-class customer service and support. For more information, please visit www.walkeredison.com.
About J.W. Childs Associates, L.P.
J.W. Childs is a Boston-based private equity firm focused on investing in middle-market growth companies. Since inception in 1995, J.W. Childs has invested $3.7 billion of equity capital in 50 companies across the consumer, specialty retail / e-commerce and healthcare industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners. For more information, please visit www.jwchilds.com.