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Catterton, TSG Consumer Partners among John Hardy suitors

29 Nov 2013

jewellery-necklace-pearlJeweller John Hardy has reportedly attracted interest from US private equity firms.

Suitors include Catterton Partners and TSG Consumer Partners, said Reuters, citing sources close to the matter.

UK private equity firm 3i, which owns a 23 per cent stake in the company, is looking to sell its interest as part of its strategy to wind down its Asian operations, said the people.

The firm also plans to get back its $45m loan to John Hardy, which matures in October next year.

The company currently has an enterprise value of between $100m and $140m, said one of the people.

John Hardy is controlled by CEO Damien Dernoncourt, who owns 73 per cent via a holding that includes other investors and creative director Guy Bedarida, said the report.

In September this year Catterton closed two funds including its flagship vehicle with commitments of $2.1bn.

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