Private Equity Firm JH Partners Buys Stake in Jeweler Alex & Ani

Private equity firm JH Partners has taken a sizeable minority stake in jeweler Alex & Ani LLC, people familiar with the investment said. The terms couldn't immediately be learned, but one of the people said JH Partners paid for the stake in cash.

The Providence, R.I.-based jeweler makes necklaces, earrings and other accessories, but is best known for its bangle bracelets. The company has 18 freestanding stores, and its gear is sold at department stores such as Nordstrom and Bloomingdales as well as independent stores. Founded in 2004, Alex & Ani is expected to post $75 million in revenue this year, up from $17 million in 2011, a person familiar with the company said.

The company expects revenue to double next year to $150 million, the person said.

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