WEST PALM BEACH, Fla., Nov. 22, 2021 (GLOBE NEWSWIRE) — Comvest Companions (“Comvest”), an operationally-focused middle-market non-public funding agency, is happy to announce a strategic funding in Renovation Manufacturers, a multi-brand e-commerce platform of dwelling enchancment merchandise. Renovation Manufacturers turns into the third direct-to-consumer e-commerce firm in Comvest’s non-public fairness portfolio, and its sixth platform in a home-related class. Within the transaction, Comvest partnered with Renovation Manufacturers’ founder, Rick Morse; Digital Gas Capital, a non-public funding agency and present investor; and members of the administration staff. Monetary phrases weren’t disclosed.
Based in 2002, Renovation Manufacturers is a pioneer within the on-line dwelling enchancment merchandise sector. The corporate, led by Marc Sieger, Chief Govt Officer, operates a platform of 11 distinct e-commerce locations spanning classes corresponding to kitchen and tub, ornamental finishes, and fireside and patio. Renovation Manufacturers serves customers in addition to professionals, together with builders, architects, designers, and property managers, in residential and industrial initiatives.
“Renovation Manufacturers innovated the web dwelling enchancment shopping for expertise within the classes it serves,” mentioned Tom Clark, a Senior Companion at Comvest. “We’re thrilled to companion with such a proficient and visionary administration staff. Years in the past, they noticed the nice potential of a scalable household of category-leading dwelling renovation manufacturers bought on to customers and differentiated by product specialization, product experience, and superior buyer expertise.”
With a broad number of merchandise, a custom-made digital shopping for expertise, greater than 45,000 buyer critiques, in-house knowledgeable product help, and direct-to-consumer success, Renovation Manufacturers is a trusted, go-to supply for dwelling renovation wants. Its product portfolio consists of kitchen cupboards; sinks, counters and vanities; air registers and baseboard covers; ornamental ceiling tiles; and electrical fireplaces and fireside mantels.
“Each do-it-yourself customers and development and design professionals are more and more comfy making dwelling enchancment purchases on-line,” mentioned Kevin LaHatte, a Companion at Comvest Companions. “Renovation Manufacturers is on the forefront of facilitating this development with a seamless buying expertise. We stay up for supporting administration in increasing Renovation Manufacturers by natural progress and continued acquisitions of leaders in different dwelling enchancment classes.”
“Renovation Manufacturers is worked up to companion with Comvest,” mentioned Mr. Sieger. “Comvest brings distinctive expertise supporting administration groups in constructing market-leading firms in business segments quickly transitioning to on-line buying. We stay up for Comvest’s sources and important operational and capital markets experience in our subsequent section of growth.”
Along with Renovation Manufacturers, Comvest’s different present or former portfolio firms within the direct-to-consumer e-commerce house embrace BEL USA (d.b.a. discountmugs.com), an internet retailer of custom-made promotional merchandise, and Rugs USA (d.b.a. RugsUSA.com), a number one on-line retailer of space rugs and different dwelling décor merchandise. A number of different of Comvest’s platforms serve varied area of interest home-related markets: Lasko, North America’s main supplier of dwelling setting merchandise; Previous Time Pottery, a worth retailer of dwelling décor merchandise; and Spinrite, North America’s main craft yarn firm.
Houlihan Lokey acted as monetary advisor to Renovation Manufacturers in reference to the transaction. Baird served as monetary advisor and McDermott Will & Emery served as authorized advisor to Comvest. Financing for the transaction was offered by Barings LLC.
About Renovation Manufacturers:
Renovation Manufacturers is a number one digitally native, multi-brand e-commerce platform of dwelling enchancment merchandise serving customers and professionals within the residential and industrial renovation house. Renovation Manufacturers is at the moment comprised of a number of specialty e-commerce manufacturers together with American Tin Ceilings, Reggio Register, Electrical Fireplaces Direct, Mantels Direct, Electrical Fireplaces Canada, Baseboarders, RTA Cupboard Retailer, DecorPlanet.com, Trueform Concrete, Blendhouse, and Kitchen Design Professionals. For extra data, please go to www.renovationbrands.com
About Comvest Companions:
Comvest Companions is a non-public funding agency offering fairness and debt capital to middle-market firms throughout the U.S. Since its founding in 2000, Comvest Companions has invested over $7.1 billion. Right this moment, Comvest Companions has roughly $6.5 billion in belongings underneath administration. By means of its in depth capital sources and broad community of business relationships, Comvest Companions provides firms monetary sponsorship, vital strategic and operational help, and enterprise improvement help. For extra data, please go to www.comvest.com
For extra data, please contact:
Tom Clark, Senior Companion, Comvest Companions – [email protected]
Kevin LaHatte, Companion, Comvest Companions – [email protected]