Marshall Retail Group of Las Vegas, a specialty retailer for high-foot-traffic marketplaces with locations in casinos, hotels and airports nationwide, has been acquired by Brentwood Associates, a Los Angeles-based consumer-focused private equity investment firm.
The deal was announced Monday. No terms were disclosed.
Founded in 1955, Marshall Retail Group has more than 155 retail locations at major casino-hotels and airports in 10 states and Washington, D.C., including more than 70 in Las Vegas and Laughlin.
MRG provides retail concepts that fall into three distinct and complementary categories: logo and sundry stores; fashion apparel, footwear and accessories stores; and third-party licensed brands. Chief Executive Officer Michael C. Wilkins will continue to lead the company.
“Brentwood is an important strategic partner that truly understands our business. We are eager to call on their expertise in retail and consumer brands as we continue our expansion into new channels.” Wilkins said. “At Marshall Retail Group, we’ve always focused on supporting and developing our people, enabling us to provide a high-quality experience for our customers.”
Brentwood managing director Rahul Aggarwal said, “Marshall Retail Group has a portfolio of proven, highly differentiated concepts. The company has demonstrated the ability to successfully innovate and create new retail concepts to meet its customers’ needs.
“Operationally nothing will change; they’ll do the same thing tomorrow as they did yesterday,” Aggarwal said. “We’re here to support them and execute a growth strategy and we want to help them build upon the success they’ve had in the past so they’ll have more in the future.”
Marshall Retail Group was advised by North Point Advisors and Nomura Securities, and its legal counsel was Kirkland & Ellis LLP. Brentwood was represented by Greenburg Traurig LLP in conjunction with the transaction and Latham & Watkins LLP on the debt financing. Golub Capital was the lead arranger on the debt financing supporting the acquisition.
Brentwood’s private equity team has invested in 45 portfolio companies with an aggregate transaction value of over $5 billion since 1984. With close to $1 billion under management, Brentwood is currently raising its fifth fund.
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