Harris Williams Advises Visual Comfort & Co. on its Pending Investment from Goldman Sachs Asset Management and Leonard Green & Partners

Rhea-AI Summary

Harris Williams, an investment bank specializing in M&A advisory, announced it is advising Visual Comfort & Co. on a new investment from Goldman Sachs Asset Management and Leonard Green & Partners, alongside AEA Investors. This strategic partnership aims to strengthen Visual Comfort’s position as a premier designer lighting resource and leverage opportunities for growth across various end markets. Visual Comfort has been a market leader since 1987, noted for its high-quality designer lighting. The investment is expected to enhance resources and capabilities for further expansion.

Positive

• Strategic investment from Goldman Sachs and LGP to boost resources for Visual Comfort.
• Visual Comfort is a market leader in designer lighting with strong brand recognition.
• Existing partnership with AEA Investors continues to support growth.

Negative

• None.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Visual Comfort & Co., the premier resource for signature designer lighting, on its pending investment from Goldman Sachs Asset Management and Leonard Green & Partners (LGP). The investment is being made alongside Visual Comfort & Co.’s existing investment partner, AEA Investors LP (AEA). The transaction is being led by Corey Benjamin, John Neuner and Zach Ledwith of the Harris Williams Consumer Group and Graham Rives of the firm’s Building Products & Materials Group.

“We are excited to work with the Visual Comfort & Co. team again as they continue to build the premier lighting platform in the industry,” said John Neuner, a managing director at Harris Williams. “With a wide range of brands, products and a devoted customer base, it’s easy to see how the company became the market leader—with ample opportunity to continue to grow the company.”

“Andy Singer and the whole management team have built a world-class business and we are proud to have partnered with Visual Comfort & Co. again to find another set of partners who believe in the company’s vision and opportunity ahead,” said Corey Benjamin, a managing director at Harris Williams. “Building on the foundation that was set with their prior investors, the addition of Goldman Sachs Asset Management and LGP will continue to add resources and capabilities to further expand across end markets.”

Since 1987, Visual Comfort & Co. has been the premier resource for signature designer lighting. For nearly 30 years, Visual Comfort & Co. has produced lighting with some of the most influential names in design using natural materials of exceptional quality and distinctive, hand-applied, living finishes. Visual Comfort & Co. offers a broad assortment of lighting featuring many prominent designs synonymous with high style and functionality.

AEA was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 100 investment professionals operate globally with offices in New York, Connecticut, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments.

Goldman Sachs Asset Management is the primary investing arm of The Goldman Sachs Group, Inc. (NYSE: GS). Goldman Sachs Asset Management provides investment and advisory services for some of the world’s leading institutions, financial advisors and individuals. Goldman Sachs Asset Management invests across public and private markets through one world-class investing platform with more than $2 trillion in assets under supervision. Founded in 1869, Goldman Sachs is a leading global financial institution that delivers financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base.

LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business and healthcare services, as well as retail, distribution and industrials. LGP has raised over $40 billion of committed capital since inception.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Consumer Group has completed transactions across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on the Harris Williams Consumer Group and recent transactions, visit the Consumer Group’s section of the Harris Williams website.

The Harris Williams Building Products & Materials Group has closed transactions across a broad spectrum of building products and materials sectors, with expertise that spans from lighter building products used in residential and commercial markets to heavy construction materials used in infrastructure applications. Within these sectors, our firm has worked with clients that touch every aspect of the production, distribution and related construction services in these markets. For more information, visit the Building Products & Materials Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210608006003/en/

FAQ

What companies are involved in the investment in Visual Comfort & Co.?

The investment involves Goldman Sachs Asset Management, Leonard Green & Partners, and AEA Investors.

What role does Harris Williams play in the Visual Comfort transaction?

Harris Williams is advising Visual Comfort & Co. on the investment transaction.

When was Visual Comfort & Co. established?

Visual Comfort & Co. was established in 1987.

What is the primary focus of Visual Comfort & Co.?

Visual Comfort & Co. specializes in designer lighting and has a broad assortment of high-quality lighting products.

What is the significance of this investment for Visual Comfort & Co.?

This investment is expected to enhance Visual Comfort's growth potential and expand its market capabilities.