M&A Deal Summary

Essity Acquires Knix

On July 8, 2022, Essity acquired apparel/textiles company Knix from Acton Capital and TZP Group for 320M USD

Acquisition Highlights
  • This is Essity’s 2nd transaction in the Apparel/Textiles sector.
  • This is Essity’s 3rd largest (disclosed) transaction.
  • This is Essity’s 1st transaction in Canada.
  • This is Essity’s 1st transaction in Ontario.

M&A Deal Summary

Date 2022-07-08
Target Knix
Sector Apparel/Textiles
Buyer(s) Essity
Sellers(s) Acton Capital
TZP Group
Deal Type Add-on Acquisition
Deal Value 320M USD

Target

Knix

Toronto, Ontario, Canada
website
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.

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Buyer(S) 1

Buyer

Essity

Stockholm, Sweden

website


Category Company
Founded 1849
Sector Consumer Products
Employees46,000
Revenue 121.8B SEK (2020)
DESCRIPTION

Essity is a global hygiene and health company dedicated to improving well-being through products and services. Essity AB's personal care products include incontinence products, including skincare products, wet wipes, and wash gloves; baby and pant diapers, as well as baby care products, such as wet wipes, shampoos, lotions, and baby oils; pads, panty liners, tampons, intimate soaps, and intimate wipes; and wound care, vascular, and orthopedics products and services. Essity was founded in 1849 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 9 of 9
Sector (Apparel/Textiles) 2 of 2
Type (Add-on Acquisition) 8 of 8
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 3 of 3
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-07 Modibodi

Balmain, Australia

Modibodi provides leakproof apparel for periods and incontinence including underwear, swimwear, activewear, and maternity wear. The company operates an online, direct-to-consumer business model, with growing sales in retail and through e-tailers. Modibodi was formed in 2013 and is based in Balmain, Australia.

Buy AU$140M

Seller(S) 2

SELLER

Acton Capital

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 1999
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Acton Capital is a late-stage venture capital firm focused on investing in web-based companies benefiting from the 'digital revolution'. The Firm has a special interest in companies and sectors benefiting from the transition to online activity and will consider opportunities across Europe and North America. Acton Capital Partners was formed in 1999 and is headquartered in Munich, Germany.


DEAL STATS #
Overall 16 of 17
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 9 of 10
State (Ontario) 1 of 1
Country (Canada) 3 of 3
Year (2022) 3 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-13 LemonOne

Berlin, Germany

LemonOne is a B2B photo on-demand platform. With its international network of professional photographers and automating the entire process, LemonOne is able to deliver bespoke high-quality visuals for large-scale clients in industries such as travel, food delivery, or real estate at an attractive price. LemonOne was founded in 2017 and is based in Berlin, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 Expertlead

Berlin, Germany

Expertlead is a global community of highly qualified tech freelancers. Expertlead’s mission is to support freelance tech professionals in all stages of self-employment from project acquisition and administrative tasks to continuous training and peer-to-peer learning. Working together with its community and using proprietary coding tests as well as rigorous technical interview processes, Expertlead vets, and selects the world's best senior developers, data science experts, experienced product/project managers as well as proficient UI/UX designers. Expertlead provides its clients with access to its exclusive community of highly qualified tech freelancers. Expertlead was founded in 2018 and is based in Berlin, Germany.

Sell -
SELLER

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 14 of 16
Sector (Apparel/Textiles) 1 of 1
Type (Add-on Acquisition) 7 of 7
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2022) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-27 Saatva

New York, New York, United States

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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 Family Entertainment Group

Itasca, Illinois, United States

Family Entertainment Group is a designer, developer, and operator of amusement centers. FEG has partnerships with family-oriented resorts to provide turnkey outsourced solutions for amusement operations ranging from initial design and layout to day-to-day site management and operations. Family Entertainment Group was founded in 2004 and is based in Itasca, Illinois.

Sell -