Houlihan Lokey Advises Tourneau

Houlihan Lokey is pleased to announce that Tourneau, LLC, has been acquired by the Bucherer Group (Bucherer) from an investor group led by Green Equity Investors IV, L.P., an affiliate of Leonard Green & Partners, L.P. (LGP). The transaction closed on April 9, 2018.

Established in 1900 and based in New York, New York, Tourneau is the largest luxury watch retailer in the United States with 28 retail locations across 10 states. Renowned for its unparalleled customer service, extensive selection of new and certified pre-owned watches, as well as expert service and repair facilities, Tourneau offers more than 8,000 unique styles from over 100 world-famous brands.

Bucherer is the largest provider of watches and jewelry in Europe. The Bucherer retail brand operates 33 exclusive locations in Europe, with 16 points of sale in Switzerland, 10 stores in Germany, one flagship boutique in Vienna, one boutique in Paris, one boutique in Copenhagen, and since 2017, four stores in London. The company is led in the third generation by Jörg G. Bucherer and is headquartered in Lucerne.

LGP is a leading private equity investment firm founded in 1989. Based in Los Angeles, the firm partners with experienced management teams to invest in market-leading companies. Since inception, LGP has invested in over 85 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm's primary sectors of focus are consumer/retail, healthcare/wellness, and business/consumer services. The firm's most recent fund, Green Equity Investors VII, L.P., closed in 2016 with $9.6 billion of committed capital.