E-Commerce Acquisitions in 2019

Web Ventures, a division of InMotion Hosting, acquired Elegant Marketplace on December 30, 2019. The acquisition brings the WordPress / Divi-focused digital marketplace and its founder Andrew Palmer into the InMotion family to expand offerings across the WordPress ecosystem for freelancers, agencies and product makers.

Web Deals Direct completed a financing with East West Bank and acquired the SCHÖN and ABFLEX business lines from EZ Innovations Ltd, closing on December 23, 2019. GulfStar acted as financial advisor to Web Deals Direct; East West Bank provided the financing to support the acquisition of the U.K.-based brands.

Guardian Capital Partners (Guardian) invested in Flat River Group, a Belding, Michigan–based eCommerce distributor, partnering with the company's executive management team in a majority recapitalization. Centerfield Capital Partners provided additional financing and minority equity, with CIBC Bank USA providing senior financing; Guardian and management plan to grow the business through investments in infrastructure, capabilities and add-on acquisitions.

Better World Libraries, a long-time partner of the Internet Archive, has acquired Better World Books, a mission-driven for-profit online bookseller. The organizations said Better World Books' offices, leadership, and operations will remain in place and selected deaccessioned titles will be routed into the Internet Archive's book-digitization program; terms were not disclosed.

An affiliate of Sun Capital Partners has completed a control investment in National Tree Company, a Cranford, New Jersey-based e-commerce wholesaler of seasonal and holiday décor. Sun Capital said it will work with the Puleo family management team to invest in growth, leveraging National Tree's sourcing, dropship fulfillment and retailer relationships to expand product range organically and via strategic acquisitions.

Assurance Mezzanine Fund (Assurance Mezz) has completed a growth investment in Pawz, Inc., an e-commerce brand that sells dog‑themed apparel, merchandise and jewelry. Pawz has a large social following (over 2.5 million) and donates 10% of profits to no‑kill dog shelters; the capital is intended to support the company's growth and expansion.

Chicago-based private equity firm Benford Capital Partners and investor Will Daly have acquired Warehouse-Lighting.com, a New Berlin, Wisconsin-based B2B e-commerce distributor of LED lighting fixtures, in a deal where founder James Abraham remains president and retains an ownership stake. The transaction is positioned to support growth and scale the company's e-commerce and distribution capabilities across industrial, commercial, municipal, and residential end markets.

Insignia Capital Group, a San Francisco Bay Area private equity firm, made a strategic minority investment in Netrush, a Vancouver, Washington–based Amazon retailer and e-commerce services provider. Founders Brian Gonsalves and Chris Marantette retained majority ownership and will continue to lead the company as Insignia supports Netrush's continued growth and capability expansion.

The Riverside Company has invested in TOOLPORT, a Norderstedt, Germany-based leading online provider of professional tents and spare parts, to support an international growth strategy. TOOLPORT will partner with Riverside and founder Stephan Weiß to expand the company's international presence and scale its e-commerce and distribution capabilities.

Regent, a global private equity firm based in Beverly Hills, has acquired Brands4Friends, Germany's largest online shopping club, from eBay Inc. Brands4Friends is headquartered in Berlin and serves over nine million members across Europe; Regent said the purchase expands its presence in Europe and provides a platform to grow the business across the continent.

Syndigo, a portfolio company of The Jordan Company, has acquired SellPoints, an Emeryville-based eCommerce optimization platform and subsidiary of ConversionPoint Technologies. The acquisition expands Syndigo's enhanced content and conversion analytics capabilities to better serve brands and retailers across its syndication network; terms were not disclosed.

Pittsburgh-based private equity firm 3 Rivers Capital has acquired Interlight, a family-owned online distributor of specialty and replacement light bulbs and batteries headquartered near Chicago. 3 Rivers Capital plans to partner with Interlight's existing management (the founder's three sons), install ecommerce veteran Jeffry Graham as CEO, and support growth through strategic and operational collaboration.

Torsion Group Corp (TGC), a manufacturer and distributor of garage door parts and accessories, acquired North Shore Commercial Door (NSCD), an established online retailer and distributor of garage door replacement parts and openers. The deal expands TGC’s e-commerce presence, broadens its product offering and provides access to DIY customers and dealers outside TGC’s traditional channels.

Pittsburgh-based private equity firm Incline Equity Partners has partnered with management to recapitalize Wholesale Supplies Plus (WSP), a distributor of raw materials and supplies for soap, cosmetics and candle makers. The investment will support capacity expansion, new product introductions and pursue acquisitions to accelerate growth.

Spiral Binding LLC announced an investment in MyBinding, a Hillsboro, Oregon-based binding and laminating dealer, to enhance Spiral's e-commerce reach and expand its product portfolio. Spiral, a portfolio company of Hilltop Private Capital and KCB Private Equity, will integrate MyBinding's online capabilities and regional sales presence to broaden its distribution and customer reach.

Funds advised by Apax Partners, alongside certain co‑investors, completed the acquisition of 100% of Trade Me Group Limited for NZ$6.45 per share (c.NZ$2.56bn / c.US$1.7bn). The transaction, approved by Trade Me’s board and shareholders, will see Apax partner with management to support the online marketplace’s next phase of growth.

Kian Capital completed a majority recapitalization of The Eastwood Company, partnering with management to provide institutional capital and support growth initiatives. Eastwood, an e-commerce provider of branded automotive restoration tools and supplies serving DIY enthusiasts and professionals, will leverage Kian's resources to accelerate product development, e-commerce expansion and overall growth.

NexTech AR Solutions Corp. completed the acquisition of Infinite Pet Life for $1.85 million, adding an e-commerce pet supplements business that generated $2.2 million in revenue and $600,000 in EBITDA in 2018. NexTech said the deal provides a revenue-generating platform and customer base to showcase and deploy its AR/AI eCommerce technologies, including planned AR advertising and 3D product experiences.

Funds advised by Triton have completed the acquisition of Sunweb Group, a leading European online tour operator headquartered in the Netherlands. Triton said it will support management and invest to drive growth and development across Sunweb's pan‑European online holiday business.

Beecken Petty O'Keefe & Company (BPOC) has made a majority equity investment in Health-E Commerce, the New York–based parent of FSAstore.com and HSAstore.com. Founder and CEO Jeremy Miller remains in place and a meaningful shareholder as BPOC partners with the company to accelerate growth and expand its reach into the market of consumers using pre-tax health benefits.

Sterling Investment Partners’ portfolio company Belnick LLC has acquired Classroom Essentials Online, a distributor of value-oriented furniture serving retail, residential, commercial and institutional end markets. The acquisition expands Belnick’s direct-to-consumer product offering, creates cross-selling opportunities and cost synergies, and adds key Classroom Essentials management to Belnick’s team.