Topspin Rests Easy with New Platform

Topspin Rests Easy with New Platform

Latest Topspin investment gives the firm four platforms for its second fund including SportPet which closed earlier this month

Coop's products include memory foam pillows and bedding accessories

SOURCE: Coop Home Goods

Topspin Consumer Partners has made an investment in memory foam pillow and accessory designer Coop Home Goods.

Coop Home Goods designs and markets adjustable memory foam pillows and bedding accessories. Coop’s products are sold through its website and third-party retailers to customers around the world. Based in Los Angeles, the company was co-founded in 2013 by siblings Jin and Kevin Chon.

Topspin emphasizes strategic and operational development for its investments including digital marketing and e-commerce, new product development, improved distribution, and go-to-market strategies. In addition to its transactional capabilities, the Topspin investment team has operating experience and is supported by a consumer-focused board of advisors.

“Kevin and I are excited to partner with Topspin,” said Jin Chon. “Topspin understands how to build and shape digital consumer brands. With their guidance and support, we believe Coop is well-positioned to capitalize on the significant growth opportunities that lie ahead.”

“We are thrilled to work alongside Jin and Kevin in continuing to grow Coop into a leading sleep and wellness brand,” said Stephen Parks, a partner at Topspin. “Their innovative, best-in-class products have disrupted the sleep category and generated an avid consumer following, driving the success of the brand. Coop’s growth has been extraordinary, and the team has created a great foundation from which to build on.”

Topspin makes control or significant minority investments ranging from $10 million to $35 million in US-based companies with revenues of less than $100 million and EBITDA between $3 million and $12 million. Topspin is based in Mamaroneck, New York and is currently making investments out of its second fund. As reported by PE Professional in June, the firm closed Topspin Consumer Partners II LP at an oversubscribed hard cap of $205 million.

In addition to Coop Home Goods, Topspin’s second fund has three other platforms including SportPet, a Wisconsin-based manufacturer and marketer of branded and private label pet products (August 2021); reCommerce, a Florida-based Amazon agency that works with companies and brands to increase sales on the Amazon e-commerce platform (May 2020); and Japonesque, a California-based developer and marketer of beauty products (September 2019).

© 2021 Private Equity Professional | August 24, 2021

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