Buyout (LBO, MBO, MBI) • E-Commerce

Providence Equity Partners Acquires Sweetwater

On June 29, 2021, private equity firm Providence Equity Partners acquired e-commerce company Sweetwater

Acquisition Context
  • This is Providence Equity Partners’ 2nd transaction in the E-Commerce sector.
  • This is Providence Equity Partners’ 77th transaction in the United States.
  • This is Providence Equity Partners’ 1st transaction in Indiana.

Explore All 127 Buyout (LBO, MBO, MBI) E-Commerce Deals - Search the Database Free


M&A Deal Summary

Date June 29, 2021
Target Sweetwater
Sector E-Commerce
Buyer(s) Providence Equity Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) J.P. Morgan Securities (Financial)
King & Spalding (Legal)

Target Company

Sweetwater

Fort Wayne, Indiana, United States
Sweetwater is an online retailer of musical instruments and audio gear. Sweetwater retailer serving musicians, recording studios, broadcast, education, and houses of worship. Sweetwater was founded in 1979 and is based in Fort Wayne, Indiana.
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Buyer Overview 1

Buyer

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


Deal Context for Buyer #
Overall 121 of 137
Sector: E-Commerce 2 of 2
Type: Buyout (LBO, MBO, MBI) 23 of 23
State: Indiana 1 of 1
Country: United States 77 of 86
Year: 2021 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-11 GlobalTranz

Scottsdale, Arizona, United States

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics, and expedited shipping services. GlobalTranz optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. GlobalTranz was founded in 2003 and is based in Scottsdale, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-27 Worldwide Express

Dallas, Texas, United States

Worldwide Express is a provider of third-party logistics services, including small parcel, LTL, FTL, and air freight shipping services to small and medium-sized businesses through a national presence of company-owned and franchise locations. Worldwide Express was established in 1995 and is based in Dallas, Texas.

Buy -