M&A Deal Summary

Francisco Partners Acquires RugsUSA

On September 10, 2021, private equity firm Francisco Partners acquired e-commerce company RugsUSA from Comvest Partners and Digital Fuel Capital

Acquisition Highlights
  • This is Francisco Partners’ 2nd transaction in the E-Commerce sector.
  • This is Francisco Partners’ 105th transaction in the United States.
  • This is Francisco Partners’ 9th transaction in New York.

M&A Deal Summary
Date 2021-09-10
Target RugsUSA
Sector E-Commerce
Buyer(s) Francisco Partners
Sellers(s) Comvest Partners
Digital Fuel Capital
Deal Type Secondary Buyout
Advisor(s) Evercore Group
Financo
Raymond James - Investment Banking (Financial)
McDermott Will & Emery (Legal)

Target

RugsUSA

Cranbury, New York, United States
website
RugsUSA helps customers turn their houses into homes, offering a stunning array of rug styles, materials, and sizes to suit every design need and budget. With an expansive selection of rugs and home décor products, attractive price points, seamless online shopping experience, and best-in-class fulfillment and customer care, the company is an experienced e-commerce pioneer and rug industry leader, with over eight million rugs sold to nearly two million homes. RugsUSA was founded in 1998 and is based in Cranbury, New York.

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Buyer(S) 1

Buyer

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.

DEAL STATS #
Overall 127 of 147
Sector (E-Commerce) 2 of 2
Type (Secondary Buyout) 20 of 24
State (New York) 9 of 10
Country (United States) 105 of 122
Year (2021) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-09 Dynamo Software

Watertown, Massachusetts, United States

Dynamo Software is a premier provider of configurable, cloud-based investment management software for the alternative asset investment industry including fund administrators, endowments, pension funds, foundations, private equity and venture capital funds, real estate investment firms, hedge funds, prime brokers, funds of funds, and family offices. Intuitive and highly configurable, the Dynamo platform has improved the productivity of fundraising, deal, research, investor relationship, and portfolio management teams worldwide. Dynamo Software was formed in 1998 and is based in Watertown, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 Paradigm

New York, New York, United States

Paradigm offers a suite of legal software solutions to help lawyers manage, automate and grow their firms. With four legal practice management and payments solutions PracticePanther, Bill4Time, MerusCase, and Headnote managed under one roof, Paradigm empowers lawyers across the spectrum of practice area, geography, and business need. Paradigm is based in New York, New York.

Buy -

Seller(S) 2

SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.

DEAL STATS #
Overall 37 of 40
Sector (E-Commerce) 2 of 2
Type (Secondary Buyout) 4 of 5
State (New York) 4 of 4
Country (United States) 37 of 40
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Atomic Transport

Chattanooga, Tennessee, United States

Atomic Transport is a provider of outsourced long‐haul waste transport and transfer station management for the largest waste companies in the U.S. Atomic transports municipal solid, liquid, and construction & demolition waste from transfer stations to landfills, manages terminal stations, and offers unique landfill services to its customer base. Atomic Transport is based in Chattanooga, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 Gen3 Marketing

Blue Bell, Pennsylvania, United States

Gen3 Marketing is a digital marketing agency that provides affiliate marketing services to customers (“advertisers”) by optimizing advertisers’ positioning of their products and services on third party websites (“publishers” or “affiliates”). Gen3 Marketing was founded in 2007 and is based in Blue Bell, Pennsylvania.

Buy -
SELLER

Digital Fuel Capital

Investor

website

Category Private Equity Firm
Founded 2015
Size Small
Type Sector Focused
DESCRIPTION

Digital Fuel Capital is a private investment firm focused on investing in and acquiring companies involved in digital marketing. This includes e-commerce, digital marketing service companies, and advertising/marketing technology companies. Digital Fuel was established in 2015 and is headquartered in Newton, Massachusetts.

DEAL STATS #
Overall 2 of 4
Sector (E-Commerce) 1 of 1
Type (Secondary Buyout) 1 of 2
State (New York) 1 of 1
Country (United States) 2 of 4
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-26 First Impression Ironworks

Gilbert, Arizona, United States

First Impression Ironworks is a manufacturer and installer of custom ornamental ironwork serving the residential repair and remodels market. The Company boasts an expansive product line of decorative security doors, iron entry doors, gates, staircases, rails, and other iron products, all completely customizable by its metal artisans. First Impression Ironworks was founded in 1995 and is based in Gilbert, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Renovation Brands

Florence, Alabama, United States

Renovation Brands is a distributor and retailer of electric fireplaces, electric heating appliances, customized fireplace mantels, and outdoor heating products. Renovation Brands was founded in 2002 and is based in Florence, Alabama.

Sell -
Mergr

Product

Company

Legal