PJ SOLOMON Advised OpCapita on its Aquisition of maurices
PJ SOLOMON served as finanical advisor to OpCapita, the London-based private equity firm with a strong track record of transforming operationally underperforming businesses in the retail, consumer and leisure sectors throughout Europe, in maurices, a US women’s value apparel retailer. This results in OpCapita’s first US acquisition.
Based in Duluth, Minnesota, maurices is a specialty hometown retailer of women’s value apparel with ~1,000 stores across the U.S. and Canada and ~$1 billion in revenue.
Ascena Retail Group (owner of Ann Taylor, LOFT, dressbarn, Lane Bryant, Catherine’s, Justice and formerly maurices) had faced operational challenges and was seeking to divest certain of its banners while creating a service-level model to leverage its investment in Centers of Excellence, as well as to cover fixed overhead.
The PJ SOLOMON team was led by Co-Head of Retail, Cathy Leonhardt.