Signet Jewelers closes Leonard Green strategic investment

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.



The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.



In conjunction with the closing of the transaction, Leonard Green managing partner Jonathan Sokoloff joins the Signet board, increasing its number from 10 to 11.



“We view Leonard Green’s significant investment in Signet as a strong vote of confidence in our business and our long-term growth prospects, and we look forward to working together to further grow and shape the Signet portfolio of brands,” said Mark Light, CEO, Signet Jewelers.



Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda.