MANCHESTER, Conn. & BOSTON–(BUSINESS WIRE)–Bob’s Discount Furniture, a banker of affection appliance and bedding at accustomed low prices, today appear the signing of a complete acceding to advertise a majority pale in the aggregation to Bain Capital, a arch all-around clandestine advance firm. The administration aggregation will abide to own a cogent pale in the company. Banking agreement of the clandestine transaction were not disclosed.
Headquartered in Manchester, Connecticut, Bob’s Discount Appliance provides a advanced array of affection furnishings, including active allowance furniture, bedchamber furniture, dining allowance furniture, mattresses/foundations and home accents, at amount prices. With 47 food amid throughout Northeast and Mid-Atlantic – and aperture in the Philadelphia breadth in February 2014 – Bob’s Discount Appliance has developed badly over the aftermost 10 years by carrying incomparable amount to customers.
“We are captivated to accomplice with Bain Capital, a abutting that has been advance in abundant retail businesses and chump brands for decades,” said Ted English, Chief Executive Officer of Bob’s Discount Furniture, who will abide to advance the company. “Bain Basic brings the acquaintance and assets we charge to abutment our connected amplification to serve added barter in added places, and to accommodate opportunities for advance for our people.” The business has been majority endemic by clandestine disinterestedness abutting KarpReilly/Apax for the accomplished nine years.
Bain Basic has a history of acknowledged investments in a array of retail and chump businesses including Michaels Stores, Dunkin’ Brands Group, Bombardier Recreational Products, Outback Steakhouse, Burlington Stores, Dollarama, and Samsonite International.
“We are aflame to accomplice with Ted English and the abundant administration aggregation at Bob’s Discount Appliance to abutment connected advance in this activating business,” said Tricia Patrick, a Principal at Bain Capital. “We accept the company’s affection appliance at abysmal amount fills an important charge in the bazaar today, and forth with the actuality of the Bob’s brand, should drive acceptable advance for years to come. We attending advanced to acknowledging the administration aggregation in active their plan to abound and action added barter the befalling to boutique at Bob’s Discount Furniture.”
Bob’s Discount Appliance additionally shares with Bain Basic a abysmal charge to association involvement. Bob’s Discount Food supports the communities area its food are amid through a array of accommodating giving efforts to amusing account agencies, charities, accumulation homes and association fundraisers, children’s charities, schools and association account groups. Through the Bain Basic Association Partnership, the abutting and its advisers accept provided time, ability and banking assets to hundreds of nonprofit organizations about the world.
The transaction is accepted to abutting during the aboriginal division of 2014.
BofA Merrill Lynch is confined as banking advisor, and Ropes & Gray LLP is acting as acknowledged counsel, to Bob’s Discount Furniture. Kirkland & Ellis LLP is confined as acknowledged counsel, and PwC LLP is confined as accounting advisor, to Bain Capital. Financing for the transaction is actuality provided by RBC and UBS.
About Bob’s Discount Appliance
Bob’s Discount Appliance provides a advanced array of affection accoutrement – including active allowance furniture, bedchamber furniture, dining allowance furniture, appointment appliance and home accents – at accustomed low prices. The food additionally action a different and agreeable arcade acquaintance featuring cafes in anniversary abundance with chargeless gourmet coffee, ice cream, accolade and candy. Since 1991, Bob’s has congenital able chump adherence by alms the highest-value home accoutrement at the everyman accessible prices. With 47 food amid throughout New England, New Jersey, New York, Maryland and Virginia, the Manchester, Conn.-based aggregation has become the 16th-largest U.S. appliance chain. Bob’s is committed to acknowledging communities area its food are amid through a array of accommodating giving efforts. Bob’s Discount Appliance Accommodating Foundation has anchored the company’s altruistic assignment for added than 15 years. In addition, the Bob’s Outreach affairs was created as a abstracted article to advice schools and children-related charities. Every year the aggregation donates added than $100,000 to schools and added than $1 actor to charities through these programs. To acquisition out added about Bob’s Discount Furniture, appointment Media For added advice on Bob’s accommodating programs, appointment Media and chase us on Twitter @MyBobs_Charity and on Facebook at Media
About Bain Basic
Bain Capital, LLC Media is one of the world’s foremost privately-held another advance firms, with added than $70 billion of assets beneath administration in several pools of basic including clandestine equity, adventure capital, accessible equity, acclaim articles and complete return. Bain Capital’s added than 300 professionals are collectively the distinct better broker in all of its funds and are committed to advance in and architecture its portfolio companies. Founded in 1984, Bain Basic has fabricated clandestine equity, growth, and adventure basic investments in over 450 companies about the world, and has abysmal acquaintance beyond bristles key vertical industries including consumer/retail, banking casework and institutions, healthcare, industrials, and technology, media and telecommunications. The abutting has a able clue almanac of investments in arch consumer/retail companies including Michaels Stores, Inc., Dunkin’ Brands Group, Inc., The Gymboree Corporation, Dollarama, and Burlington Stores, Inc. Through the Bain Basic Association Partnership and Bain Basic Children’s Charity Media the abutting and its advisers serve as trusted ally with over 500 borough organizations about the apple whose missions affect them, allowance to body abundant communities and advance the affection of activity area they alive and work. Bain Basic has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Tokyo, Shanghai, Hong Kong, Mumbai and Sydney.
For Bob’s Discount Furniture:
Full & By
Jaclyn Petros, 978-273-1849
For Bain Capital:
Stanton PR & Marketing
Alex Stanton, Media
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