Deloitte Corporate Finance (DCF) was the financial advisor to The Marena Group, a manufacturer of compression garments for medical and consumer applications, on its October 2015 equity recapitalization with The Riverside Company.
Marena’s products include medical-grade compression garments, shapewear, and activewear sold to plastic surgery centers, hospitals, medical providers, patients, and consumers. Marena’s compression garments are used by plastic surgery patients for post-surgical applications and by consumers for shapewear to increase support and appearance. Customers include medical providers and individual consumers in the US as well as more than 50 international distributors selling into nearly 80 countries. Marena was founded in 1994 by Vera and Bill Watkins – the company was named after their children Mark and Lena – and its first products were made in the couple’s home garage in July 1995. Today, the company is headquartered northeast of Atlanta in Lawrenceville, GA (www.marenagroup.com).
“In today’s market, private companies like Marena are using equity recapitalizations to drive their next phase of growth. Marena is working to continue its expansion to help patients and consumers benefit from medical grade compression products. Assisting Marena in its partnership with the experienced team at Riverside Company was immensely gratifying,” said Doug Bolt, a managing director at DCF.
This is the second transaction that DCF has worked on with Marena. Back in 2012, the firm advised Marena on a mezzanine financing. “Deloitte Corporate Finance has been a critical strategic advisor to Marena twice now. We are thrilled with the results of our recent equity recapitalization process and the valuable, high-touch advice from DCF’s transaction team at every stage of the process. Partnering with The Riverside Company is an exciting new step as we continue pursuing our growth initiatives,” said Vera Watkins, chief executive officer of Marena.
Deloitte Corporate Finance provides deal execution and financial advisory services to large corporate, middle market, and private equity firms. Together with the corporate finance advisory practices within the Deloitte Touche Tohmatsu network of member firms, the practices include in excess of 1,900 professionals and 150 international locations (www.investmentbanking.deloitte.com).
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