Special Situations/Distressed • E-Commerce

Comvest Partners and Accord Equipment Finance Acquire Karmaloop

On May 22, 2015, private equity firm Comvest Partners and lender Accord Equipment Finance acquired e-commerce company Karmaloop

Acquisition Context
  • This is Comvest Partners’ 1st and Accord Equipment Finance’s 1st transaction in the E-Commerce sector.
  • This is Comvest Partners’ 33rd and Accord Equipment Finance’s 1st transaction in the United States.
  • This is Comvest Partners’ 3rd and Accord Equipment Finance’s 1st transaction in Massachusetts.
Investment Fate
  • Karmaloop was sold to a strategic buyer in 2016.

Explore All 14 Special Situations/Distressed E-Commerce Deals - Search the Database Free


M&A Deal Summary

Date May 22, 2015
Target Karmaloop
Sector E-Commerce
Buyer(s) Comvest Partners
Accord Equipment Finance
Deal Type Special Situations/Distressed

Target Company

Karmaloop

Boston, Massachusetts, United States
Karmaloop, Inc. is an eCommerce business that sells urban fashion and streetwear, including apparel, shoes and accessories.
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Buyers Overview 2

Buyer

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 16.0B 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 Context for Buyer #
Overall 33 of 62
Sector: E-Commerce 1 of 3
Type: Special Situations/Distressed 2 of 2
State: Massachusetts 3 of 3
Country: United States 33 of 61
Year: 2015 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-21 FastMed Urgent Care

Raleigh, North Carolina, United States

FastMed Urgent Care owns and operates 110 clinics in North Carolina providing a broad range of acute/episodic and preventive healthcare services 365 days per year. FastMed also provides workers' comp and other occupational health services at all of its clinics, and family medicine, sports medicine, and telemedicine services at select locations. FastMed has successfully treated nearly six million patients since opening its first clinic in 2005, and is the largest urgent care operator to be awarded the joint commission gold seal of approval for accreditation in healthcare quality and safety in ambulatory healthcare. FastMed Urgent Care was founded in 2001 and is based in Raleigh, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 AxisPoint Health

Westminster, Colorado, United States

CMH Services Subsidiary LLC is a health care management company focused on care management,nurse advice line and analytics services, including CarePoint, GuidePoint and Analytix.

Buy -
DESCRIPTION

Accord Equipment Finance is a provider of financing solutions to middle-market North America-based companies. Sectors of interest include aerospace, consumer products, energy, food/beverage, healthcare, manufacturing, technology, and transportation. The Firm looks to provide $1 to $5 million of capital to support businesses with at least $5 million of annual revenue. In 2017, CapX merged with the Accord Financial Corp. family to form Accord Equipment Finance (AEF). Accord Equipment Finance is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 1 of 2
Sector: E-Commerce 1 of 1
Type: Special Situations/Distressed 1 of 1
State: Massachusetts 1 of 1
Country: United States 1 of 2
Year: 2015 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 2-20 Records Management

Carlstadt, New Jersey, United States

2-20 Records Management is a provider of records and information management services throughout the United States. 2-20 Records Management is based in Carlstadt, New Jersey.

Buy -