Ancor Capital Partners is pleased to announce the recapitalization of Spencer N. Enterprises, Inc., based in El Monte, California. The recapitalization marks the fourth transaction for Ancor in the past 12 months.
Spencer is a leading designer, manufacturer, importer and marketer of soft home decor products such as decorative pillows and window coverings. The company’s blue-chip clients include nearly all top-tier, mass-merchant retailers of home furnishings, as well as several leading department, specialty and discount stores.
“Spencer is a leader in their category, and the impressive partnership they have developed with their clients has enabled them to build the company to be one of the dominant players in the industry,” said J. Randall Keene, Founding Managing Partner of Ancor Capital.
As part of the transaction, Joy Stewart, who has been a leader for Spencer in growing client relationships, has been promoted to President of the company. Ms. Stewart said, “As operators themselves, the Ancor team took the time to really understand our business. Our team is excited about the opportunity that Ancor will provide. They are committing the resources and talent Spencer will need to execute our aggressive growth plans.”
Nancy Spencer, Founder, will continue on the company’s Board of Directors and has made a significant reinvestment in the company.