NEXUS CAPITAL MANAGEMENT COMPLETES ACQUISITION OF COLDWATER CREEK AND SOFT SURROUNDINGS

FORT LAUDERDALE, Fla., Nov. 2, 2026 /PRNewswire/ -- Nexus Capital Management LP (together with certain affiliates, "Nexus"), a Los Angeles-based alternative asset management firm, today announced that it has completed its acquisition of CW Holdings, LLC (together with its subsidiaries, the "Company" or "Coldwater"), the parent company of the Coldwater Creek and Soft Surroundings brands, from Newtimes Group ("Newtimes").

Coldwater operates two complementary women's apparel and lifestyle brands, Coldwater Creek and Soft Surroundings, serving women 45 and older through its e-commerce sites and catalogs. Since bringing the two brands together in 2023, the Company has built a scaled direct-to-consumer platform with a highly loyal, repeat customer base.

"Coldwater Creek and Soft Surroundings are brands with rich heritage and a deeply loyal customer base, built on a distinctive point of view and a genuine connection with the women they serve," said Jonathan Whitlock, Partner at Nexus. "We have been impressed by what the Coldwater team has built, and we are excited to partner with management to continue to foster the brands' unique legacies and capitalize on the significant growth opportunities ahead. Nexus brings deep experience investing in consumer brands, together with a bench of operating partners and industry experts, and we look forward to supporting the Company as it enters its next phase of growth."

David Walde, Chief Executive Officer of Coldwater, added, "Coldwater Creek and Soft Surroundings are brands with decades of heritage and customers who have stayed with them for years. We are proud of the brands and the team behind them, and this partnership marks an exciting new chapter for our Company. I want to thank our employees, customers and vendor partners for helping us reach this milestone. Nexus shares our belief in what makes these brands special, and with their support we will continue investing in our product, the experience we deliver for our customers and the ways we reach new ones."

"It has been a privilege to partner with Dave and the Coldwater team," said Alex Angelchik, Group Managing Director of Newtimes Group. "We are grateful for the hard work and dedication of the entire team in building Coldwater into the platform it is today, and we wish the Company and Nexus continued success in the years ahead."

Advisors

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel and Robert W. Baird & Co. Incorporated served as financial advisor to Nexus. Greenberg Traurig, LLP served as legal counsel and The Sage Group LLC served as financial advisor to Coldwater.

About Coldwater

Coldwater is a direct-to-consumer women's apparel and lifestyle platform headquartered in Fort Lauderdale, Florida, with additional offices in St. Louis, Missouri and Boston, Massachusetts. The Company's flagship brand, Coldwater Creek, was founded in Sandpoint, Idaho in 1984 and offers women's apparel, shoes and accessories in misses, petite and women's sizes, inspired by the natural beauty of the Pacific Northwest. Soft Surroundings, founded in St. Louis, Missouri in 1999, offers women's apparel and lifestyle products designed around softness, comfort and artisanal details. Both brands serve their customers through their e-commerce sites and catalogs. For more information, please visit www.coldwatercreek.com and www.softsurroundings.com.

About Nexus Capital Management LP

Nexus is an alternative asset investment management company based in Los Angeles, California that was founded in 2013. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses.

For more information on Nexus, please visit www.nexuslp.com.

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SOURCE Nexus Capital Management LP