Thursday, December 22, 2016

Kendra Scott Design Gets Private Equity Investment

Austin-based fashion accessories brand Kendra Scott Design, the venture-backed fashion accessories brand, said late Wednesday that it has received an investment from private equity investment firm Berkshire Partners. The company's former backer, Norwest Venture Partners, will continue on as a minority investor, according to the company. Financial details of the investment were not announced. Kendra Scott Design said that founder Kendra Scott will continue to me majority shareholder of the firm and CEO. Kendra Scott Design was advised by Jeffries LLC, along with Weil, Gotshal & Manges LLP and Kastner, Huggins, Reddien & Gravelle LLP. Berkshire's legal counsel was Paul, Weiss, Rifkind, Wharton & Garrison LLP.