From Home Furnishing Business
Equity Firm Invests in Aurora Brands
Castanea Partners is partnering with the Aurora Brands management team, led by Lee Feldman and Howard Cohen. As partners in Twin Lakes Capital, they led the acquisition of MacKenzie-Childs in 2008, and Jay Strongwater in 2011, and have driven significant growth in both brands.
“We really look forward to working with Lee and Howard to support the continuing growth of MacKenzie-Childs and Jay Strongwater,” said Steve Berg, Partner at Castanea. “We feel that our operating and marketing experience will add value in the next stage of the company’s development.”
Founded in 1983, and headquartered in Aurora, N.Y., MacKenzie-Childs is a design driven leader in the luxury home furnishings and personal accessories market.
Founded in 1995, and headquartered in New York, N.Y., Jay Strongwater is a luxury brand in home and personal accessories.
“We are excited to partner with Castanea, and believe their investment sets the stage for future growth," said Feldman, Aurora CEO. "Castanea’s extensive operating experience building premium consumer brands was the distinguishing factor when it came to selecting a partner."
As part of the transaction, Ron Frasch, Castanea operating partner, will join Aurora Brands’ board. Frasch most recently served as the president and chief merchandising officer at Saks Fifth Avenue.
"Aurora Brands has established itself as a leader in the luxury home segment and is well positioned to capitalize on future opportunities,” Frasch said. “I am excited to work with this impressive team to further develop the MacKenzie-Childs and Jay Strongwater brands."