Founded by the executive team of Beechwood Capital, The Holmes Group evolved from a start-up to an $800 million manufacturer of leading home environment and small kitchen appliances, including the Holmes®, Crock-Pot®, Bionaire®, Rival® and Seal-a-Meal® brands. This history and success provided the entrepreneurial, financial and operational expertise that is the foundation of Beechwood Capital.
Follow the growth of the company, scroll over the key dates marked on the timeline below.
Jerry Kahn, a veteran of the housewares industry, founds Holmes Air, a start-up manufacturer of home environment products (fans, heaters, humidifiers). Holmes’ first successful product...
the start-up
Jerry Kahn, a veteran of the housewares industry, founds Holmes Air, a start-up manufacturer of home environment products (fans, heaters, humidifiers). Holmes’ first successful product line, the “Fashion Six”, includes the first fan line in an array of neon colors that match current consumer trends. Working out of a 5,000 sq. ft. warehouse, Kahn makes nine exhaustive trips to the Far East in his first year to work with manufacturers to design and build category-changing products and packaging
Holmes Air reaches $11MM in sales and national distribution, including quickly growing Wal-Mart stores. Impressed by the company’s progress, Stephen Rubin of Pentland Industries provides...
capital catalyst
Holmes Air reaches $11MM in sales and national distribution, including quickly growing Wal-Mart stores. Impressed by the company’s progress, Stephen Rubin of Pentland Industries provides an unlimited line of credit in return for a percentage of the business. This capital infusion allows the company to invest in a larger product development infrastructure and the subsequent entry into the Air Purification category. This association proves to be an important catalyst in the growth of Holmes in the next decade.
The move into its first wholly-owned manufacturing facility and one of the first facilities in Southern China by a US based company, gives Holmes the...
bold steps in asia
The move into its first wholly-owned manufacturing facility and one of the first facilities in Southern China by a US based company, gives Holmes the ability to better control its product development process, keep its innovations proprietary and improves its manufacturing processes. Later, Holmes opens a larger facility, The Esteem Factory, that includes 150,000 square feet of manufacturing space and over 1,000 employees.
Having grown to over $250MM in gross revenue, Holmes recapitalizes through an investment by Boston-based private equity firm, Berkshire Partners. The deal keeps control of...
partnering for growth
Having grown to over $250MM in gross revenue, Holmes recapitalizes through an investment by Boston-based private equity firm, Berkshire Partners. The deal keeps control of the company’s operations in the hands of the existing Holmes management and adds a tremendous financial partner. The infusion of capital provided by Berkshire gives Holmes the opportunity to expand its investment in its core infrastructure, which results in growth thru product line and international expansion.
Wal-Mart International presents Holmes with the International Vendor of the Year Award, recognizing the company as its Housewares division’s best vendor within international direct import...
world-wide awareness
Wal-Mart International presents Holmes with the International Vendor of the Year Award, recognizing the company as its Housewares division’s best vendor within international direct import supply chain operations.
Holmes Products acquires The Rival Company, including it’s Crock-Pot®, Pollenex®, and Bionaire® brands and product lines, creating a $600 million small applicance leader. The deal...
a transformation
Holmes Products acquires The Rival Company, including it’s Crock-Pot®, Pollenex®, and Bionaire® brands and product lines, creating a $600 million small applicance leader. The deal creates an ideal match as Rival provides Holmes with an entree to the $5 billion kitchen appliance market, thus reducing the inherent seasonality of its core business. Holmes provides Rival with best-in-class Far East manufacturing, product development and sourcing. With the merger, The Holmes Group is born.
The Holmes Group and General Electric participate in a manufacturing joint venture within Holmes’ Chinese manufacturing facility. The facility, Raider Motor, in which Holmes manufactures...
assembly excellence
The Holmes Group and General Electric participate in a manufacturing joint venture within Holmes’ Chinese manufacturing facility. The facility, Raider Motor, in which Holmes manufactures motors for GE’s Trident Dishwasher, is rated the first six-sigma motor manufacturing facility in China.
Continuing its history of investing in world-class manufacturing facilities in the Far Eat, The Holmes Group opens its newest facilities - the New Esteem Factory...
leadership in asia
Continuing its history of investing in world-class manufacturing facilities in the Far Eat, The Holmes Group opens its newest facilities - the New Esteem Factory and New Raider Motor Company. The new facilities, led by Far East Managing Director Tommy Liu, combine to comprise the largest small appliance manufacturing center in Southern China - totaling two million square feet with over 10,000 employees.
The Holmes Group, led by it’s Kitchen Business unit and growing brands Crock-Pot®, Rival® and Seal-a-Meal®, Reaches $800 million in gross sales. The Kitchen business,...
growth milestone
The Holmes Group, led by it’s Kitchen Business unit and growing brands Crock-Pot®, Rival® and Seal-a-Meal®, Reaches $800 million in gross sales. The Kitchen business, at $360MM in gross sales, more than doubles its gross revenue in the six years since the Rival acquisition. The milestone also includes over $300 million in gross sales from the Holmes Home Environment business and almost $100MM from International gross sales.
Key competitor Jarden Corporation (Mr.Coffee®, Sunbeam®, FoodSaver® and Oster® brands) agrees to acquire The Holmes Group in a strategic acquisition for $660 million, the deal...
Successful exit
Key competitor Jarden Corporation (Mr.Coffee®, Sunbeam®, FoodSaver® and Oster® brands) agrees to acquire The Holmes Group in a strategic acquisition for $660 million, the deal closes in January 2006. After 23 years of growth, this once small start-up completes its journey from niche product manufacturer to industry leader.