An affiliate of Sun Capital Partners has acquired the Gem Shopping Network, a TV channel specializing in on-air sales of gemstones.
Transaction terms were not disclosed.
Gem Shopping will continue to be run by its current management team, including CEO P.J. Lynch, who joined the company in 2011.
The Duluth, Ga.–based channel was founded by Frank M. Circelli in 1995, and primarily sells 14k–24k gold jewelry with colored gemstones, many with diamond accents. It currently reaches more than 40 million U.S. households. Over the last three years, its sales have grown approximately 45 percent.
Sun Capital also owns retailer Shopko.