BIRMINGHAM, AL. (September 12, 2024) – Founders is pleased to announce that Brook Valley Management, Inc. (“Brook Valley” or the “Company”) has completed the sale of Texas Thrift, a portfolio of 17 Texas-based thrift stores, to Brightmore Brands (“Brightmore”), a portfolio company of Beach Point Capital Management LP (“Beach Point”).  Pro forma for the transaction, Brightmore will operate the largest privately held, for-profit thrift store chain in North America.  Brook Valley was exclusively advised by principals of Founders Advisors, LLC in this transaction.

Dave Kloeber, Chief Executive Officer and Chairman of Brightmore, said: “Texas Thrift has achieved impressive growth over recent years, driven by its caring and hard-working employees.  We are excited to partner with them to continue providing an attractive value proposition to our customers and supporting so many worthwhile charity organizations.”

Greg Giles, Chief Executive Officer of Brook Valley, added: “We have long admired Brightmore Brands and Dave’s family history founding the thrift industry.  We view Brightmore as the ideal steward to look after our employees and charity partners for years to come and are excited to partner as go-forward shareholders in the combined businesses.”

“We are grateful to have had the opportunity to serve Greg and Ann Giles.  They have built an incredible business, and it was a pleasure working with all parties involved to achieve this outcome.  We are thrilled to see what Greg, Ann, and the team at Texas Thrift will accomplish together with Brightmore Brands,” said Wayne Vacek, Managing Director at Founders Advisors.

About Brook Valley Management

Established over 30 years ago, Brook Valley is a family-built business that sells gently used clothing and household items throughout the United States.  The Company works with various civic organizations, religious organizations, and municipalities to provide fundraising opportunities.  Additionally, Brook Valley recycles used garments that otherwise would end up in an incinerator or landfill.  Pro forma for the transaction, Brook Valley operates 13 thrift stores throughout Georgia, Florida, Tennessee, and Mississippi along with an extensive salvage and export business.

About Brightmore Brands

Brightmore Brands was formed in 2022 through the combination of myUnique and EcoThrift.  Brightmore is a proud partner of many charity organizations across the country supporting veterans, those struggling with chronic illnesses and disadvantaged groups.  Brightmore processes over 60 million pounds of used clothing each year, redirecting textiles and other goods for reuse that would otherwise be destined for a landfill.  Pro forma for the transaction, Brightmore operates 37 stores across Texas, New York, New Jersey, California, and Minnesota.

About Beach Point

Beach Point is a multi-strategy investment manager making private equity, credit, real estate and structured product investments.  As of June 30, 2024, Beach Point Capital Management manages approximately $17 billion in AUM on behalf of a predominantly institutional client base.  Headquartered in Santa Monica, CA, Beach Point also has offices in New York, London, and Dublin.  Beach Point Private Equity leverages Beach Point’s industry experience, network and shared resources to be a value-added partner for its private equity portfolio companies.  Beach Point Private Equity seeks investments with capital requirements of $15 – $150 million.

About Founders Advisors

Founders Advisors, LLC is a merger, acquisition, & strategic advisory firm serving middle-market companies.  Founders focuses on helping companies across various sectors including Business Services, Consumer, Healthcare, Industrials, and Technology.  Founders’ skilled professionals, proven expertise, and process-based solutions help companies access growth capital, make acquisitions, and/or prepare for and execute liquidity events to achieve specific financial goals.  To provide securities-related services, certain principals of Founders Advisors are licensed with Founders M&A Advisory, LLC, member FINRA and SiPC.  Founders M&A Advisory is a wholly owned subsidiary of Founders Advisors.  Neither Founders Advisors nor Founders M&A Advisory provide investment advice.  For more information, please visit www.foundersib.com.