TZP Group has acquired a majority equity interest in Akerson Enterprises (DBA Kindred Bravely) a provider of maternity apparel.
Kindred Bravely is a direct-to-consumer and digital brand that specializes in apparel for pregnant and nursing mothers. The company’s products include bras, loungewear, underwear, and sleepwear. In 2019, the company was ranked #20 on Inc.com’s list of the 5,000 fastest-growing, privately held companies in the US.
Kindred Bravely was founded in 2015 by Deeanne Akerson and Garret Akerson and is headquartered north of San Diego in Oceanside, California.
“We are so glad to be partnering with TZP,” said Ms. Akerson, who along with her husband, Garret, will continue as co-CEOs and maintain a significant stake in the business. “We met with many of the professionals at TZP and were impressed by their ‘Partner of Choice’ culture and their ability to add value through their extensive experience in direct-to-consumer brands.”
“Kindred Bravely is an incredible brand with a loyal and growing customer base,” said Dan Gaspar, a partner at TZP. “We are excited to partner with the Akersons and the Kindred Bravely team as the company continues its rapid growth trajectory.”
Mr. Gaspar led the transaction for TZP with support from Michael Morgan, Sergina Lambert, Rodney Eshelman, Erin O’Brien Edwards and Jarrad Berman.
New York City-based TZP Group makes control and minority investments of between $10 million and $100 million in lower and mid-market companies that are active in consumer products, sale and marketing, travel and hospitality, industrial and tech-related services, and education sectors. Equity for the buy of Kindred Bravely was sourced from TZP Small Cap Partners II LP which invests in companies with less than $10 million of EBITDA.
Objective Capital Partners, a Los Angeles and San Diego-based investment bank, was the financial advisor to Kindred Bravely.
© 2021 Private Equity Professional | April 13, 2021
