Brentwood tries on Allen Edmonds

The firm will acquire high-end shoemaker Allen Edmonds from Minnesota-based private equity firm Goldner Hawn Johnson & Morrison, which has owned the company since 2006.

Los Angeles-based Brentwood Associates will acquire high-end shoemaker Allen Edmonds for an undisclosed sum. 

The Wisconsin-based company specialises in shoes for men and also makes clothing and accessories such as belts and leather goods. Brentwood is acquiring the business from Minnesota-based private equity firm Goldner Hawn Johnson & Morrison, which first invested in the company in 2006. Allen Edmonds operates 46 retail stores in the US and employs 550 people.

Goldner Hawn closed its latest vehicle the “Trailhead Fund” on $250 million in June. The Minnesota State Board of Investment is a limited partner in the fund, according to Private Equity International’s Research and Analytics division. The fund makes control investments in mid-market companies based in the US Midwest with earnings before interest, tax, depreciation and amortization between $5 million and $15 million and enterprise values between $20 million to $150 million.  

Goldner Hawn was unavailable for comment at press time.

Brentwood is in market with its fifth flagship buyout fund targeting $500 million. The consumer-focused firm led by Bill Barnum was founded in 1972 and manages an equity pool of more than $650 million.