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RAPAPORT... Private equity firm Palladium Equity Partners announced that it had made a majority investment in Daniel's Jewelers in California, without disclosing financial details. The retailer was founded in 1948 and the family-run business has since grown to 73 locations across Southern California, the Central Valley and the Central Coast. "Daniel's Jewelers has established an attractive market position over the past 66 years with a well-respected brand, strong customer loyalty and compelling value proposition to its customers," said Luis Zaldivar, a managing director of Palladium Equity. "We look forward to working with the Daniel's leadership team on a range of new initiatives to support the growth of the company, including opening new locations and pursuing strategic acquisitions, both inside and outside of California." David Sherwood, a member of the founding family and the jeweler's CEO, will continue to lead the retailer. "We are delighted to partner with Palladium, a firm with extensive expertise and many years of experience helping founder-owned businesses reach the next level of growth. With this partnership in place, we are well positioned to continue offering the strong service and convenient financing options upon which my grandparents, father and uncle built the company as we expand our footprint into new markets." Palladium Equity stated that it holds more than $2.5 billion in assets under management and acquires and grows companies. The firm listed Taco Bueno, Promerica Bank, Clarion Industries and Cannella Response Television, among others, in its current portfolio.
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