Today's Transactions:
Clearlake Picks Up Online Retailer Swiss Watch
Swiss Watch International sells Swiss Legend, Lucien Piccard, Invicta, Elini and Kenneth Jay Lane watches, among other brands
Private equity firm Clearlake Capital Group LP acquired Swiss Watch International Inc., an online watch retailer, for an undisclosed amount.
Swiss Watch, headquartered, despite its name, in Hollywood, Fla., also sells accessories and apparel online. The company’s websites include worldofwatches.com, ewatches.com, thewatchery.com and smartbargains.com. The sites sell Swiss Legend, Lucien Piccard, Invicta, Elini and Kenneth Jay Lane watches, among other brands.
GSO Capital Partners and PNC Bank provided debt financing for the deal. Blackstone Advisory Partners served as Swiss Watch’s financial adviser, and Moelis & Co. served as Clarklake’s financial adviser.
Clearlake, headquartered in Los Angeles, has invested in Jacuzzi, Mformation and Platinum Energy Solutions.
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