Blackstone’s Minority Investment in Walker Edison Furniture

Simpson Thacher represented Blackstone, while Ropes & Gray represented Prospect Hill Growth Partners and Walker Edison Furniture Company in the deal.

Funds managed by Blackstone Tactical Opportunities (NYSE: BX; “Blackstone”) have made a significant minority investment in Walker Edison, a leading e-commerce furniture company. The company’s founders and Prospect Hill maintain a majority stake. Terms of the transaction, which was announced on May 24 were not disclosed.

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work.

Prospect Hill Growth Partners is a Boston-area private equity firm that has invested $2.8 billion of capital in 37 portfolio companies over the past two decades. Walker Edison, based in West Jordan, Utah, designs and supplies affordable, ready-to-assemble furniture.

Simpson Thacher represented Blackstone with Anthony Vernace (Picture), Robert Langdon, Mark Myott, Sherry Shen and Jacob Gindt (M&A); Jonathan Goldstein, Sophie Staples and Scott Grundei (Tax); Peter Gilman, Matthew Leighton, Javier Rivera-Alvarado, Caitlin Lackner and Devin Ralston (Funds); Lori Lesser, Melanie Jolson and Samuel Watters (Intellectual Property); Gregory Grogan, Jeanne Annarumma, Caitlin Fitzgerald and Allison Sweeney (Executive Compensation and Employee Benefits); and Adeeb Fadil and Timothy Mulvihill (Environmental).

The Ropes & Gray team that represented Prospect Hall and Walker Edison was led by private equity partner Bill Mone, and included private equity associates Daniel Cowan and Martin Pepeljugoski, tax counsel Alyssa Kollmeyer and tax partner Aaron Harsh, and debt financing partner Kevin Jarboe (all of Boston).

Involved fees earner: Daniel Cowan – Ropes & Gray; Aaron Harsh – Ropes & Gray; Kevin Jarboe – Ropes & Gray; Alyssa Kollmeyer – Ropes & Gray; Bill Mone – Ropes & Gray; Martin Pepeljugoski – Ropes & Gray; Jeanne Annarumma – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Caitlin Fitzgerald – Simpson Thacher & Bartlett; Peter Gilman – Simpson Thacher & Bartlett; Jacob Gindt – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Caitlin Lackner – Simpson Thacher & Bartlett; Robert Langdon – Simpson Thacher & Bartlett; Matthew Leighton – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Mark Myott – Simpson Thacher & Bartlett; Devin Ralston – Simpson Thacher & Bartlett; Javier Rivera-Alvarado – Simpson Thacher & Bartlett; Sherry Shen – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Allison Sweeney – Simpson Thacher & Bartlett; Anthony Vernace – Simpson Thacher & Bartlett; Samuel Watters – Simpson Thacher & Bartlett;

Law Firms: Ropes & Gray; Simpson Thacher & Bartlett;

Clients: Blackstone Tactical Opportunities; Prospect Hill Growth Partners; Walker Edison Furniture Company;

Author: Martina Bellini