M&A Deal Summary

Cortec Group and Twin Brook Capital Partners Acquire Pink Lily

On November 16, 2021, private equity firm Cortec Group and mezzanine finance firm Twin Brook Capital Partners acquired e-commerce company Pink Lily

Acquisition Highlights
  • This is Cortec Group’s 1st and Twin Brook Capital Partners’ 1st transaction in the E-Commerce sector.
  • This is Cortec Group’s 43rd and Twin Brook Capital Partners’ 19th transaction in the United States.
  • This is Cortec Group’s 1st and Twin Brook Capital Partners’ 1st transaction in Kentucky.

M&A Deal Summary

Date 2021-11-16
Target Pink Lily
Sector E-Commerce
Buyer(s) Cortec Group
Twin Brook Capital Partners
Deal Type Recapitalization
Advisor(s) Harris Williams (Financial)
Perkins Coie (Legal)

Target

Pink Lily

Bowling Green, Kentucky, United States
Pink Lily is a direct-to-consumer eCommerce retailer of women’s apparel, footwear, and accessories. The Company seeks to empower women by providing an ever-changing assortment of affordable products. Pink Lily was founded in 2014 and is based in Bowling Green, Kentucky.

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Buyer(S) 2

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 44 of 49
Sector: E-Commerce M&A 1 of 1
Type: Recapitalization M&A Deals 7 of 10
State: Kentucky M&A 1 of 1
Country: United States M&A 43 of 48
Year: 2021 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Little Sleepies

Los Angeles, California, United States

Little Sleepies is a fast-growing direct-to-consumer sleepwear and accessories brand. The Company offers a cohesive portfolio of high-quality, bamboo viscose children's pajamas and accessories in a variety of modern and creative prints, as well as matching adult pajamas and a collection of complementary blankets and crib sheets. Little Sleepies was founded in 2018 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 Goettl Air Conditioning & Plumbing

Las Vegas, Nevada, United States

Goettl Air Conditioning & Plumbing is a provider of AC and heating equipment and a full range of maintenance, repair and replacement services. Goettl operates in the Phoenix, Tucson, Las Vegas and Southern California areas. All Goettl technicians are background-checked, drug-tested and receive continuous technical training to make them the best in the industry. Goettl Air Conditioning & Plumbing was founded in 1939 and is based in Las Vegas, Nevada.

Buy -
Buyer
DESCRIPTION

Twin Brook Capital Partners is a provider of senior financing to small and mid-sized profitable companies. The Firm looks to offer a variety of credit and equity solutions including revolvers, senior loans, unitranche loans, mezzanine financing, and equity co-investment to US-based companies with $3 to $50 million in EBITDA. Target sectors include industrial, manufacturing, business services, financial services, insurance, aerospace/defense, distribution, healthcare, and software/tech enabled services. Twin Brook Capital Partners is based in Chicago, Illinois.


DEAL STATS #
Overall 20 of 26
Sector: E-Commerce M&A 1 of 1
Type: Recapitalization M&A Deals 3 of 5
State: Kentucky M&A 1 of 1
Country: United States M&A 19 of 25
Year: 2021 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 RQM+

Monroeville, Pennsylvania, United States

RQM+ is a medical device and diagnostics-focused, regulatory, and quality consulting firm. The company delivers transformative solutions by providing unrivaled collective expertise, fueled by a passion for client success. RQM+’s experts are collaborative, laser-focused on client needs, and committed to delivering high-value solutions that exceed expectations. RQM+ was founded in 2008 and is based in Monroeville, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-03 Fire & Life Safety America

Richmond, Virginia, United States

Fire & Life Safety America is a provider of fire and life safety services to the commercial, industrial, institutional and multy-family markets. Fire & Life Safety America was founded in 1997 and is based in Richmond, Virginia.

Sell -