E-Commerce Acquisitions in 2018

Digital Room, a portfolio company of H.I.G. Capital, has acquired Logo Sportswear, an e-commerce provider of custom promotional apparel and uniforms based in Wallingford, Connecticut. The acquisition expands Digital Room's range of customized apparel and promotional products; H.I.G. supported the deal and BNP Paribas provided debt financing.

London-based Ascential plc acquired Flywheel Digital LLC, a Baltimore- and Seattle-based e-commerce services and software provider, for $60 million cash upfront with earn-outs of up to $400 million over three years. Flywheel—which offers managed services, software and marketplace expertise to consumer-packaged-goods brands selling on Amazon—will join Ascential's digital marketing/sales division and report to CEO Duncan Painter.

Devon, PA-based private equity firm L2 Capital Partners has made a majority equity investment in Winchester Carpet & Rug Co., which operates the e‑retailer Rugs Direct. Dinan Capital Advisors served as exclusive financial advisor to Rugs Direct and its shareholders on the transaction; Rugs Direct is a leading online seller of area rugs and home décor with a catalog of more than 180,000 rugs.

Charlotte-based private equity firm Summit Park completed a recapitalization of Fast Growing Trees, LLC, a Fort Mill, South Carolina–based direct-to-consumer e-commerce retailer of trees and shrubs. The transaction will support the company’s growth initiatives—including supplier expansion and digital marketing optimization—while providing partial liquidity and capital to accelerate expansion.