Everything But Water, one of the country’s largest specialty swim chains, has been acquired by Bear Growth Capital Partners, a division of Bear Stearns Merchant Banking.
Terms of the deal were not disclosed. The 34-unit Orlando, Fla.-based company has estimated sales of about $30 million.
The company’s founder, owner and president, Stacy Seigel, has left the company and Rick Sarmiento has joined the firm as chairman and as a board member. Sarmiento was the founder and former ceo of White House/Black Market, now a division of Chico’s FAS. Ann Tucker, who had been vice president, is now president of the chain.
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