Fort Lauderdale, Florida, November 2nd / PRNewswire / -- Los Angeles-based alternative asset management firm Nexus Capital Management LP (together with some of its affiliates, referred to as “Nexus”) announced today that it has completed the acquisition of CW Holdings, LLC (together with its subsidiaries, referred to as “the Companies” or “Coldwater”). CW Holdings is the parent company of the Coldwater Creek and Soft Surroundings brands, and the seller is Newtimes Group (“Newtimes”).
Coldwater operates two complementary women's fashion and lifestyle brands – Coldwater Creek and Soft Surroundings – serving female customers aged 45 and above through its e-commerce website and catalog services. Since integrating these two brands in 2023, the company has established a scaled platform that directly targets consumers and has developed a customer base with high loyalty and a high rate of repeat purchases.
“Coldwater Creek and Soft Surroundings are brands with a rich heritage and extremely loyal customer bases, built on a distinct brand perspective and a genuine connection with the women they serve,” said Jonathan Whitlock, a partner at Nexus. “We are impressed by everything the Coldwater team has created, and we are delighted to collaborate with the management to continue this brand’s unique heritage and seize significant growth opportunities in the future. Nexus has extensive experience in investing in consumer brands and is equipped with a team of operational partners and industry experts; we look forward to providing support as the company enters its next phase of growth.”
Coldwater The Chief Executive Officer, David Walde, added: " Coldwater Creek and Soft Surroundings are brands with decades of history, and our customers have been with us for many years. We are proud of these brands and the teams behind them. This collaboration marks an exciting new chapter for the company. I would like to thank our employees, customers, and supplier partners for helping us achieve this milestone. Nexus recognizes the value of the uniqueness of these brands, and with their support, we will continue to invest in our products, the experience we provide to our customers, and the ways in which we reach new customers."
Newtimes Group, Executive Director of the Group, said: "It is our honor to be able to cooperate with the teams of Dave and Coldwater. We are grateful for the hard work and dedication of the entire team in transforming Coldwater into the platform it is today, and we wish the company and Nexus continued success in the coming years."
Consultant
Paul, Weiss, Rifkind, Wharton & Garrison LLP serve as the legal advisors for Nexus, Robert W. Baird & Co Incorporated act as its financial advisors. Greenberg Traurig and LLP serve as the legal advisors for Coldwater, while The Sage Group LLC acts as its financial advisor.
About Coldwater
Coldwater is a consumer-facing women's clothing and lifestyle platform headquartered in Fort Lauderdale, Florida, with additional offices in St. Louis, Missouri, and Boston, Massachusetts. The company's flagship brand, Coldwater Creek, was founded in 1984 in Sandpoint, Idaho, and offers women's clothing, footwear, and accessories in regular, petite, and plus sizes, inspired by the natural beauty of the Pacific Northwest region of the United States. Soft Surroundings was established in 1999 and is headquartered in St. Louis, Missouri; it provides women's clothing and lifestyle products designed around softness, comfort, and handmade details. Both brands serve customers through e-commerce websites and catalog services. For more information, please visit www.coldwatercreek.com and www.softsurroundings.com.
About Nexus Capital Management LP
Nexus is an alternative investment management company headquartered in Los Angeles, California, founded in 2013. Nexus adopts flexible investment authorization and focuses on creating long-term value through collaboration with leading management teams and enterprises.
For more information about Nexus, please visit www.nexuslp.com.
