Jacksonville Daily Record
With its stock price floundering as the company struggles to increase sales, Stein Mart Inc. agreed Jan. 31 to a buyout by a private equity firm.
The Jacksonville-based fashion retailer said Kingswood Capital Management L.P. agreed to buy all shares not controlled by Chairman Jay Stein.
Stein controlled 32% of the shares of the company, according to its most recent proxy statement. Under the agreement, an entity controlled by Stein will continue to own about one-third of the company.. . . more