KKR Completes Channel Control Merchants Investment
06.08.15
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Simpson Thacher represented affiliates of Kohlberg Kravis Roberts & Co. (“KKR”) in the completed equity financing of Channel Control Merchants (“CCM”). CCM's management team will continue to be significant investors in the business. Financial terms were not disclosed.
CCM is an extreme value retailer and exporter of brand-sensitive secondary market inventories specializing in the purchase and resale of store-level inventories from Fortune 500 and other well-known U.S. retailers and manufacturers. CCM sells a wide variety of brand-name merchandise across multiple categories at exceptional savings at its more than 60 retail stores under the banners Dirt Cheap, Treasure Hunt and Dirt Cheap Building Supplies.
The Simpson Thacher team included Marni Lerner, Chris Vena, Lisa Zhang and Katharine Thompson (M&A); Sophie Staples (Tax); Tristan Brown and Linda Barrett (Executive Compensation and Employee Benefits); Krista McManus (Real Estate); Genevieve Dorment (Intellectual Property); Adeeb Fadil (Environmental); and Michael Naughton, Kenneth Ehrhard and Ellen Frye (Regulatory). Summer associate Amanda Levine also provided invaluable assistance.