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Walker Edison a leading supplier of furniture with an exclusive focus on the e-commerce channel announced that funds managed by Blackstone Tactical Opportunities have made a significant minority investment in the Company. The Companys Founders Brad Bonham and Matt Davis and controlling investor Prospect Hill Growth Partners maintain a majority stake.Walker Edison designs and supplies affordable ready-to-assemble furniture. Their extensive logistical network and data-driven business model provides an end-to-end solution to leading global e-commerce platforms allowing their partners to seamlessly offer a wide variety of products with fast shipping to consumers.Brad Bonham Co-Founder and CEO of Walker Edison said Weve made tremendous progress since partnering with Prospect Hill Growth Partners in 2018. Adding Blackstone as a partner alongside Prospect Hill is an exciting step in our evolution as a data-centric e-commerce enabler. Our hyper-growth has been driven by our pivot to data and we believe that growth will only accelerate by partnering with Blackstones unique offerings in data science logistics and supply chain as we continue to expand across the globe.Jasvinder Khaira a Senior Managing Director at Blackstone said Walker Edison is a pioneer in its sector and trusted partner to many of the worlds leading e-commerce platforms. The continued shift toward online purchasing and strengthening consumer recovery are two of Blackstones highest conviction investment themes and the company is poised for significant further expansion. We are excited to work with their first-class management team to help further accelerate their growth in the years ahead.Ann Chung a Managing Director at Blackstone said Walker Edisons combination of scale technology and product offerings have made it a leader in the fast-growing online furniture industry. We believe their business is well positioned to benefit from strong tailwinds moving forward as e-commerce adoption continues to rise particularly among younger furniture customers.David Fiorentino a Partner at Prospect Hill Growth Partners said We continue to believe strongly in the value proposition of Walker Edison as a data-driven e-commerce enablement solution. We are excited to continue our partnership with the Founders Brad and Matt and welcome Blackstones expertise in e-commerce as we continue to build a category-leading company across the globe.Terms of the transaction were not disclosed. Ropes Gray served as legal advisor and Goldman Sachs Co. and Lincoln International LLC served as financial advisors to Walker Edison. Simpson Thacher Bartlett served as legal advisor to Blackstone.
