E-Commerce Acquisitions in Virginia

EMERGE Commerce Ltd. acquired all issued and outstanding shares of Retail Store Networks, Inc. (dba WholesalePet.com), a profitable U.S.-based B2B e-commerce marketplace serving independent pet retailers. The transaction, announced November 16, 2021, was for up to US$25 million (combination of cash, shares, deferred consideration and earn-out) and expands EMERGE’s portfolio into the B2B pet vertical while adding a recurring, asset-light marketplace expected to be immediately accretive to EBITDA.

Trader Interactive acquired four niche marketplaces — NextTruck, Rock & Dirt, Tradequip and Trade-A-Plane — from The Cosby Harrison Company, expanding its commercial vehicle, construction equipment, energy and aviation marketplace offerings. The deal (closed Feb 10, 2020) preserves the marketplaces' brands and brings most associated Cosby Harrison employees to Trader Interactive to support continued service to dealers and OEMs and enable international growth (including Rock & Dirt Español).

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.