From this morning’s LBO Wire:
Brazos Private Equity Partners LLC sold apparel brand Southern Tide LLC to clothing maker Oxford Industries, Laura Cooper reports. A filing with the Securities and Exchange Commission states Oxford acquired the company for $85 million.
Southern Tide, of Greenville, S.C., sells its Southern style apparel through its website and at Nordstrom, Von Maur and more than 850 retailers in more than 45 states as well as Washington, D.C., the Virgin Islands and Bermuda.
More stories available to LBO Wire subscribers:
Webster Capital has hired investment bank Goldman Sachs Group Inc. to explore a sale of Epic Health Services Inc., a pediatric-focused home-health-care company, writes Amy Or…Trivest Partners is rounding up commitments for a new growth equity fund called Trivest Growth Investment Fund LP, or TGIF, reports Laura Kreutzer…And Staple Street Capital acquired nearly all the assets of Mid-States Supply Co., a distributor of pipes and related products, through a bankruptcy process.
(LBO Wire is a daily newsletter with comprehensive analysis of all the investments, deals, fundraisings and personnel moves involving private equity firms. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)
Elsewhere on the Web:
Blackstone Groupid its first-quarter profit fell sharply “as its selling of older investments waned during another period of market volatility,” writes Matt Jarzemsky for The Wall Street Journal. The New York firm posted earnings of $150 million, down from $629.4 million a year earlier.
A union representing casino workers said Apollo Global Management and TPG should be stripped of their voting rights at Caesars Entertainment ’s annual shareholder meeting “over questions raised by a court-appointed examiner’s bankruptcy probe,” report Peg Brickley and Jacqueline Palank for the Journal.
A ruling by a federal judge in Massachusetts, who found that two private-equity funds were jointly liable for the pension fund debt of one of the companies they acquired, “has reverberated loudly through” the industry. Libby Lewis writes in an opinion piece for DealBook of the New York Times.
Write to Mike Lucas at firstname.lastname@example.org