M&A Deal Summary

TZP Group and Comvest Partners Acquire Saatva

On April 27, 2022, private equity firms TZP Group and Comvest Partners acquired e-commerce company Saatva

Acquisition Highlights
  • This is TZP Group’s 3rd and Comvest Partners’ 3rd transaction in the E-Commerce sector.
  • This is TZP Group’s 39th and Comvest Partners’ 50th transaction in the United States.
  • This is TZP Group’s 5th and Comvest Partners’ 6th transaction in New York.

M&A Deal Summary

Date 2022-04-27
Target Saatva
Sector E-Commerce
Buyer(s) TZP Group
Comvest Partners
Deal Type Recapitalization

Target

Saatva

New York, New York, United States
website
Saatva is an online retailer of luxury mattresses and bedding in the United States. Saatva designs and delivers six mattress styles: the Saatva Classic innerspring, Loom & Leaf memory foam, Zenhaven all-natural latex, Solaire precision air, Saatva HD, and the new Saatva Youth, along with a Lineal adjustable base and Saatva organic bedding. Saatva was established in 2011 and is based in New York City.

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Buyer(S) 2

Buyer

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 42 of 45
Sector (E-Commerce) 3 of 3
Type (Recapitalization) 4 of 5
State (New York) 5 of 5
Country (United States) 39 of 42
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-24 Wave Sports + Entertainment

Santa Monica, California, United States

Wave Sports + Entertainment is a world class sports and entertainment company serving modern day fans via content, products, and experiences. We obsess over sports, from the mainstream to more, bringing superfans the coverage, culture, commentary, and community they crave. With over 110 million highlyengaged global followers and a reach of over 500 million sports fans monthly, we’ve tapped into something incredibly powerful in record time.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-08 Knix

Toronto, Ontario, Canada

Knix is a direct-to-consumer intimate apparel brand that is re-inventing intimates for real life. Knix was founded in 2012 and is based in Toronto, Ontario.

Sell $320M
Buyer

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 51 of 57
Sector (E-Commerce) 3 of 3
Type (Recapitalization) 4 of 4
State (New York) 6 of 6
Country (United States) 50 of 56
Year (2022) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-05 Encompass Supply Chain Solutions

Lawrenceville, Georgia, United States

Encompass Supply Chain Solutions is a distributor of repair parts and accessories for products throughout the home. Encompass also offers complete parts supply chain management, 3PL, depot repair and reverse logistics services. In addition to consumers, Encompass supports an array of B2B customers, including manufacturers, multi-family property management companies, warranty providers, service networks, independent dealers and retailers. Encompass Supply Chain Solutions was founded in 1953 and is based in Lawrenceville, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-13 GAI Consultants

Homestead, Pennsylvania, United States

GAI Consultants is an engineering, planning, environmental, and economic consulting firm. GAI Consultants was founded in 1958 and is based in Homestead, Pennsylvania.

Buy -