Investment group to acquire giant Mexico-based home builder
Advent International, a global investment and corporate buyout firm, will acquire Corporativo Javer, one of the largest privately held home builders in Mexico. Terms of the deal were not disclosed.
The deal includes all of Corporativo Javer’s housing subsidiaries and rights to the Corporativo Javer trademark, as well as related trademarks. Advent will not acquire Corporativo Javer’s industrial real estate business.
Founded in 1973, Corporativo Javer specializes in the construction of middle-income, low-income and residential housing. Advent said Corporativo Javer has key developments in growth markets, including Monterrey, Guadalajara, Aguascalientes and Reynosa.
“We see tremendous long-term growth potential for Javer, with its leading market position, experienced management team and positive trends in the Mexican housing market,” said Diego Serebrisky, a partner in Advent’s Mexico City office.
Advent has made other investments in the Mexican housing sector — in 2005, the firm acquired Hipotecaria Casa Mexicana, a specialized mortgage lender focused on the low- to middle-income housing market.
Lifetime Brands names new CFO
Lifetime Brands, marketer of housewares under several names including Cuisinart, KitchenAid and Farberware, has named Laurence Winoker senior vp-finance, treasurer and CFO.
Winoker replaces Robert McNally, who is retiring.
Winoker most recently served as senior vp, controller and treasurer for MacAndrews & Forbes Holdings. He also formerly served as senior vp, corporate controller and treasurer for Revlon from 1999 to 2003.
Winoker holds a bachelor’s degree in economics and accounting from the City University of New York.
Westbury, N.Y.-based Lifetime Brands is a designer, developer and marketer of housewares and kitchen accessories.
Container Store purchased by private firm
Specialty retailer Container Store has sold the majority of its stock to private investment firm Leonard Green & Partners, based in Los Angeles.
Leonard Green & Partners has major investments in several other companies, such as Petco and David’s Bridal. Terms of the deal were not disclosed, but Leonard Green & Partners said it intended to keep Container Store’s current management team.
Container Store will take on a new six-member board of directors, consisting of company CEO Kip Tindell, president Melissa Reiff and chief merchandising officer Sharon Tindell. From Leonard Green & Partners, board members will be vp Jonathan Sokoloff, vp Kristofer Galashan and partner Timothy Flynn.
“We’re excited about what the future holds for everyone involved, as we continue to deliver our brand of retail and look forward to making everything about our great company even greater,” said Kip Tindell in a statement.
Container Store has 39 locations in the United States, with future stores planned in Denver and Cherry Hill, N.J.