Kinross Cashmere Parent Dawson Forté Cashmere Sells Majority Equity Stake to Tempus Partners
Dawson Forté Cashmere, Canton, Mass.-based parent company of Kinross Cashmere and &Isla, has sold a majority equity stake to Tempus Partners, a consumer-focused private equity firm.
Andy Bartmess will remain Dawson Forté’s chief executive officer and a shareholder.
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“We are excited to work with Tempus Partners to accelerate the growth of our Kinross and &Isla brands as we expand into more stores and across channels,” Barmess said in a statement.
Mary McCann, Dawson Forté’s senior vice president of sales and merchandising, who will remain an executive and shareholder, added, “I’m thrilled to work with Geoffrey [Champlin] and Kyle [White] at Tempus Partners as we enter Dawson Forté’s next chapter together. Their proven experience in successfully growing consumer brands makes them excellent partners for Dawson Forté’s future.”
Champlin, managing partner of Tempus Partners, said, “We were drawn to Dawson Forté because of its long history of excellence, dedication to product quality and its passionate customer base.”
Kyle White, managing partner of Tempus Partners, said, “We’re especially happy Dawson Forté will continue under Andy’s and Mary’s leadership as we work to expand while keeping in place what makes the Kinross and &Isla brands so special.”
Financial terms of the transaction were not disclosed. MMG Advisors Inc. brokered the transaction and acted as exclusive financial adviser to the sellers. Scholhamer Business Law acted as legal adviser to the sellers. Benesch Friedlander Coplan & Aronoff acted as legal adviser to Tempus Partners. The deal is effective March 11.
Kinross Cashmere is a luxury apparel brand with a focus on cashmere and other fine natural fibers, while &Isla is a U.K.-inspired luxury cashmere brand. Dawson Forté’s products are sold in more than 600 U.S. and U.K. high-end specialty store, including Mitchells, Halsbrook, Wits End, Wilkes Bashford and Valentina.
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