Private equity firm JW Childs Associates has acquired a majority interest in US-based lifestyle retailer EbLens from KarpReilly.
Established in 1949, EbLens sells footwear, apparel and accessories through a network of 44 stores across the northeastern part of the country.
Financial terms of the transaction were not disclosed.
EbLens CEO Richard Seaman said: “We appreciate the support of KarpReilly in our growth and look forward to another investment partner with deep retail and consumer expertise in JW Childs.
“With their support, we will continue to focus on engaging with local communities and delivering high-quality lifestyle footwear and apparel to our urban consumers as we continue to accelerate new store growth.”
KarpReilly’s representatives on EbLens’ board will be replaced by four executives from JW Childs.
JW Childs is expected to provide assistance in the company’s plan to expand its brand both within and around New England.
In this transaction, EbLens received legal assistance from Ropes & Gray and Robert W Baird & Co provided financial advisory services. Arnold & Porter Kaye Scholer served as legal counsel to JW Child.
The collection at EbLens stores features brands such as Nike, Jordan, adidas, Timberland, Polo, The North Face, Lacoste and Nautica.
JW Childs focuses on investing in middle-market growth companies across the consumer, speciality retail and healthcare industries.