The Robert Allen Group today announced a partnership with private equity firm Altamont Capital Partners (Altamont) to receive an equity investment to build the brand's success as a resource to the trade.
“We are highly enthusiastic about the combination of strategic guidance and financial backing that Altamont offers our business,” said Robert Allen’s Chairman & Chief Executive Officer, Jeff Cordover. The Cordover family maintains a significant ongoing equity ownership stake in the business.
Altamont is a $500 million private equity fund focused on investing in industry-leading businesses and helping them realize their full potential. Robert Allen is the firm’s second investment from its inaugural investment fund.
“Robert Allen is a market leader with premium brands and a long history of innovation in the designer fabric industry,” said Steve Brownlie, Principal of Altamont. “We believe that the additional capital will allow the Company to expand both organically and through acquisitions, and we look forward to supporting the existing management team in their pursuit of the many opportunities the industry presents.”
“This investment will allow us to build on our success as the preeminent resource to the trade,” said Cordover. “We are proud of Robert Allen’s long history of innovation and look forward to continuing to build upon that legacy.”