J.W. Childs Associates, L.P., a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies, acquired a majority interest in Shoe Sensation, a family footwear retailer in the Midwestern United States.
The seller of the stake was Palisade Concentrated Equity Partnership II, L.P., a private equity partnership managed by Palisade Capital Management, L.L.C.
The financial terms of the investment were not disclosed. In conjunction with the funding, Partners Adam Suttin and William Watts and Vice President Hemanshu Patel from J.W. Childs will join the Shoe Sensation Board of Directors along with Joseph Fortunato, a specialty retail executive and CEO of GNC from 2005 to 2014.
This acquisition represents the third investment by J.W. Childs since the formation of J.W. Childs Equity Partners IV, L.P. in April 2014.
Led by Mike Zawoysky, Chief Executive Officer, Shoe Sensation is a community-focused retailer of branded footwear since 1984. The company offers a broad selection of brands. It has 115 stores in 17 states including in Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, Ohio, Pennsylvania, South Dakota, Tennessee, Virginia, West Virginia and Wisconsin.