Growth Capital • Apparel/Textiles

H.I.G. Private Equity, CPP Investments and Datavest Partners Invest In Lulus

On August 12, 2014, private equity firm H.I.G. Private Equity, pension CPP Investments and private equity firm Datavest Partners invested in apparel/textiles company Lulus

Investment Context
  • This is H.I.G. Private Equity’s 2nd, CPP Investments’ 1st and Datavest Partners’ 1st transaction in the Apparel/Textiles sector.
  • This is H.I.G. Private Equity’s 111th, CPP Investments’ 9th and Datavest Partners’ 1st transaction in the United States.
  • This is H.I.G. Private Equity’s 10th, CPP Investments’ 1st and Datavest Partners’ 1st transaction in California.

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Investment Summary

Date August 12, 2014
Target Lulus
Sector Apparel/Textiles
Investor(s) H.I.G. Private Equity
CPP Investments
Datavest Partners
Deal Type Growth Capital

Target Company

Lulus

Chico, California, United States
Lulus is an online destination for chic and on-trend fashion, providing superior customer service, a carefully curated selection, and a personalized shopping experience. Lulus was founded in 1996 and is based in Chico, California.
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Investors Overview 3

Investor

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


Deal Context for Investor #
Overall 153 of 385
Sector: Apparel/Textiles 2 of 5
Type: Growth Capital 18 of 67
State: California 10 of 29
Country: United States 111 of 251
Year: 2014 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 PawsPlus

Sarasota, Florida, United States

PawsPlus provides affordable pet health services in the form of pet hospitals and over 10,000 annual vaccination clinics in pet retailers across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-15 Smallsteps

Amersfoort, Netherlands

Smallsteps is a provider of childcare services in the Netherlands. The Group offers day care for 0-4 year olds and pre/after school care for 4-12 year olds. The group provides services to 26,000 children through its 251 locations and 2,750 employees. Smallsteps works together with parents, local communities and national partners to ensure excellent childcare services are provided for its customers. Smallsteps was founded in 1975 and is based in Amersfoort, Netherlands.

Buy -
Investor
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Deal Context for Investor #
Overall 14 of 176
Sector: Apparel/Textiles 1 of 1
Type: Growth Capital 4 of 21
State: California 1 of 23
Country: United States 9 of 82
Year: 2014 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-03 Gates Industrial

Denver, Colorado, United States

Gates Industrial is a manufacturer of power transmission belts and a premier global manufacturer of fluid power products. Gates Industrial was founded in 1911 and is based in Denver, Colorado.

Sell $5.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 Kinetic Concepts

San Antonio, Texas, United States

Kinetic Concepts, Inc. is a developer and marketer of an innovative medical devices for advanced wound healing and therapeutic treatment systems that address skin breakdown, pulmonary complications, and circulation problems associated with patient immobility. KCI's medical devices and therapeutic systems include V.A.C.® Therapy Systems, as well as specialty beds, mattress replacement systems, wheelchair seating, and related devices. KCI serves hospitals, nursing homes, and home care settings both in the U.S. and abroad.

Sell -
DESCRIPTION

Datavest Partners is a private equity firm that seeks majority recapitalizations and significant minority investments in digital consumer, commerce and marketing companies. The Firm looks to commit $20 to $50 million per transaction and will consider opportunities across the US and Canada. Datavest looks to leverage its expertise in data, from sourcing, to operations, and portfolio company value creation. Datavest Partners was formed in 2021 and is headquartered in Ft. Lauderdale, Florida.


Deal Context for Investor #
Overall 1 of 1
Sector: Apparel/Textiles 1 of 1
Type: Growth Capital 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2014 1 of 1