Blackstone buys stake in e-commerce furniture company Walker Edison
Walker Edison, an American e-commerce furniture company, has secured a significant minority investment from funds managed by Blackstone Tactical Opportunities, the opportunistic investment platform of Blackstone.
The terms of the deal were not disclosed.
Brad Bonham and Matt Davis – the founders of Walker Edison and the company’s controlling investor – Prospect Hill Growth Partners have retained a majority stake.
Based in Salt Lake City, Utah, the company designs and supplies ready-to-assemble furniture. The company’s logistical network and data-driven business model is said to be delivering an end-to-end solution to major global e-commerce platforms to enable their partners to seamlessly provide a broad range of products with fast shipping to consumers.
Brad Bonham – Co-Founder and CEO of Walker Edison said: “We’ve 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 Blackstone’s unique offerings in data science, logistics, and supply chain as we continue to expand across the globe.”
Established in 2006, Walker Edison is a data driven company with operations in Brazil, the UK, Asia, and Germany.
Jasvinder Khaira – a Senior Managing Director at Blackstone said: “Walker Edison is a pioneer in its sector and trusted partner to many of the world’s leading e-commerce platforms.
“The continued shift toward online purchasing and strengthening consumer recovery are two of Blackstone’s 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.”