New York – September 18, 2019 – BRS & Co. (“BRS”), a New York-based private equity firm, and Rosser Capital Partners (“RCP”), a Greenwich, CT-based private equity firm, announced their acquisition of 2nd Ave LLC and its affiliates (“2nd Ave” or the “Company”), a contemporary thrift store retailer operated for-profit.
2nd Ave operates 10 thrift store locations throughout the Mid-Atlantic and Northeast under the 2nd Ave Value Store and Village Thrift Store brands. From selection to organization to merchandizing of clothing, household goods and collectibles, the Company strives to provide a unique and department store-like shopping experience while bringing its customers the best value in discount retail. 2nd Ave’s affiliate, GreenDrop, is a national licensed charitable fundraiser that solicits and collects tax-deductible donations of clothing and household goods on behalf of select national charities.
Tony Peressini, 2nd Ave’s CEO, said, “Both BRS and RCP have extensive knowledge of the retail and logistics industries and bring a network of seasoned executives, which we believe will be valuable as we seek to continue to enhance our existing customers’ shopping experience and reach more customers.”
Tory Rooney, BRS Managing Director, said, “BRS has had a long history of investing in specialty retail concepts and is proud to support a specialty retail concept that is also a community leader through its involvement in community events and activities.”
Jacob Organek, RCP Managing Director, said, “We believe that Tony and his team have positioned 2nd Ave as a leader in the thrift store space and are excited to partner with them as they enter this new phase.”
The Company’s financial advisor was Cascadia Capital. BRS and RCP’s legal advisor was Kirkland & Ellis. Golub Capital provided financing.
About BRS & Co.
BRS is a New York based private equity investment firm with combined capital invested of $1.2 billion, focused on investing in lower middle market consumer goods and services businesses. Since 1996, BRS has purchased over 50 portfolio companies for aggregate consideration of over $6.9 billion. In addition, BRS portfolio companies have completed over 40 add-on acquisitions. For more information, please visit www.brs.com.
About Rosser Capital Partners
Rosser Capital Partners is a lower middle market investment firm with a focus on investing in emerging concepts and brands within the restaurant, retail and consumer industries. We seek to partner with strong management teams who have demonstrated the skills, commitment and discipline to create shareholder value over time. Over the last 25 years, the principles of Rosser Capital Partners have completed 27 transactions for an aggregate consideration of over $2.5 billion. For more information, please visit www.rossercapitalpartners.com