Solomon Partners

Brothers National and Pavement Partners Merge to Form Pave America

Retrieved on: 
Monday, February 27, 2023
Commercial Building & Real Estate, Construction & Property, Finance, Other Transport, Professional Services, Urban Planning, Other Construction & Property, Transport, Wright Brothers National Memorial, Organization, Partnership, Acquisition, Solomon Partners, Pave, Road, HOA, Trivest, Brother

Brothers National, LLC (“Brothers”) has merged operations with Pavement Partners Holding, LLC (“Pavement Partners”) to create one of the nation’s preeminent pavement service companies, Pave America, LLC (“Pave America” or the “Company”).

Key Points: 
  • Brothers National, LLC (“Brothers”) has merged operations with Pavement Partners Holding, LLC (“Pavement Partners”) to create one of the nation’s preeminent pavement service companies, Pave America, LLC (“Pave America” or the “Company”).
  • As part of the transaction, Tom York, formerly at Pavement Partners, will assume the role of Pave America CEO and Paul Garner, formerly at Brothers, will serve as President.
  • Tom York, CEO of Pave America, said, “The opportunity to combine these two businesses to form one of the leading pavement service providers in the country makes tremendous sense for all the Company’s constituents.
  • Citizens Capital Markets and Solomon Partners acted as co-lead financial advisors for Pavement Partners and Shoreline in the transaction.

Wolverine Worldwide Sells Keds Brand to Designer Brands, Inc.

Retrieved on: 
Wednesday, February 8, 2023
Online Retail, Fashion, Other Retail, Retail, Footwear, Hush, Wolverine World Wide, Designer Brands, Hush Puppies, Warner, Wolverine, NYSE, Sale, DBI, DSW, Honigman LLP, Solomon Partners, Keds

We are confident this will place Wolverine on an accelerated path to improved profitability and long-term shareholder value creation,” said Brendan Hoffman, Wolverine Worldwide’s President and Chief Executive Officer.

Key Points: 
  • We are confident this will place Wolverine on an accelerated path to improved profitability and long-term shareholder value creation,” said Brendan Hoffman, Wolverine Worldwide’s President and Chief Executive Officer.
  • The Keds brand sale closed effective February 4, 2023, and the Hush Puppies license is anticipated to be effective as of July 1, 2023.
  • Honigman LLP and Warner, Norcross + Judd LLP served as legal advisors to Wolverine Worldwide.
  • Solomon Partners served as financial advisor to Designer Brands, Inc., with Thompson Hine LLP as legal advisors.

Providence Equity Acquires Multi-Decade Lease for Iconic Times Square Billboards

Retrieved on: 
Tuesday, January 24, 2023
Finance, Marketing, Advertising, Communications, Professional Services, OUTFRONT, Martha Plimpton, LLP, Broadway, Gibson Dunn, NYSE, Providence Equity, Senior, Duane Morris, Heart, Partnership, Education, Foot, Solomon Partners, Multimedia, UBG, Social media, Music

Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced it has acquired a multi-decade lease for nine marquee billboards at Two Times Square (“2TS”) and 1600 Broadway from Universal Branding Group (“UBG”).

Key Points: 
  • Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced it has acquired a multi-decade lease for nine marquee billboards at Two Times Square (“2TS”) and 1600 Broadway from Universal Branding Group (“UBG”).
  • “We are thrilled to acquire these assets, which are among the most premium digital billboard signs in one of the most highly trafficked locations on the planet – Times Square,” said Lucy Dobrin, Managing Director at Providence.
  • This transaction is a wonderful opportunity to expand our nearly 3-year partnership with OUTFRONT through this new investment in Times Square.
  • We are excited about the opportunity to operate them in partnership with Providence for many years to come.

Designer Brands Inc. Furthers Owned Brand Strategy, Leveraging its Unique Business Model

Retrieved on: 
Wednesday, February 8, 2023
Hush, Designer Brands, Woman, Presidential Council on Nation Branding, Korea, Ecologic Brands, Inc., Hush Puppies, Athleisure, Warner, Wolverine, NYSE, Acquisition, Le Tigre, Dirty Dancing, DBI, DSW, Honigman LLP, Solomon Partners, Wolverine World Wide, DTC, Retail, Keds

COLUMBUS, Ohio, Feb. 8, 2023 /PRNewswire/ -- Designer Brands Inc. (NYSE: DBI) (the "Company" and "Designer Brands"), one of the world's largest designers, producers and retailers of footwear and accessories, today announced several actions to strengthen its Owned Brands strategy.

Key Points: 
  • This expands Designer Brands' Owned Brands' reach into casual and athleisure footwear in the direct-to-consumer and wholesale channels, supplementing the recent additions of Le Tigre and Topo Athletic.
  • This acquisition also marks Designer Brands' first Owned Brand wholesale business within the kids footwear segment.
  • This will enable Designer Brands to explore future opportunities to leverage this expertise and infrastructure across other brands in its Owned Brands portfolio.
  • Designer Brands' unique business model, incorporating a portfolio of world-class owned brands and a market leading store and digital retail business powered by 30 million loyalty customers, allows the Company to work with highly valued brand partners like Wolverine Worldwide in ways only Designer Brands is able to do.