Kingswood Capital Management, a private investment firm, agreed to take Stein Mart, an American discount men and women's department store chain based in Jacksonville, Florida, private in a $30m deal. "The Special Committee and its advisors conducted a thorough and independent process to review the Company’s strategic alternatives and identify a transaction that would maximize shareholder value. We believe that this transaction is in the best interest of all Stein Mart stakeholders, including our many loyal employees," Richard L. Sisisky, Stein Mart Board member and Chairman of the Special Committee.