M&A Deal Summary

Versa Capital Management Acquires Simplexity

On January 7, 2008, distressed investor Versa Capital Management acquired retailer Simplexity from InPhonic

Acquisition Highlights
  • This is Versa Capital Management’s 1st transaction in the Retail sector.
  • This is Versa Capital Management’s 7th transaction in the United States.
  • This is Versa Capital Management’s 1st transaction in Virginia.
Investment Fate
  • Simplexity went bankrupt in 2014.
  • Simplexity was sold to a strategic buyer in 2014 for 10M USD.

M&A Deal Summary

Date 2008-01-07
Target Simplexity
Sector Retail
Buyer(s) Versa Capital Management
Sellers(s) InPhonic
Deal Type Divestiture

Target

Simplexity

Reston, Virginia, United States
Simplexity is an online seller of wireless services and products. Simplexity is based in Reston, Virginia.

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Buyer(S) 1

Buyer

Versa Capital Management

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2004
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Versa Capital Management is a private equity firm focused on investing in complex or distressed situations. Versa will consider businesses headquartered in North America and valued between $100 million and $1 billion. Prospective investment situations include buyouts, divestitures, recapitalizations, restructurings/turnarounds, take privates, rescue financings, and liquidations. Versa Capital Management is headquartered in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 8 of 28
Sector: Retail M&A 1 of 6
Type: Divestiture M&A Deals 1 of 5
State: Virginia M&A 1 of 2
Country: United States M&A 7 of 26
Year: 2008 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-21 Holliston

Church Hill, Tennessee, United States

Holliston is a manufacturer of cloth coverings and serves the book cover material, packaging fabric, and industrial cloth markets. Holliston was formed in 1893 and is based in Church Hill, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-19 Bob s Stores

Meriden, Connecticut, United States

Bob's Stores LLC is an apparel and footwear retailer that offers the entire family a wide range of brands at affordable prices in casual fashion, denim, activewear, team wear, and footwear. It provides families in the Northeastern U.S. with a broad selection of such leading national brands as Timberland, Carhartt, Champion, Under Armour, adidas, Skechers, Levi’s, and others. Bob's Stores was formed in 1954 and is based in Meriden, Connecticut.

Buy -

Seller(S) 1

SELLER

InPhonic

Washington, District of Columbia, United States

Category Company
Founded 1997
Sector Communications
Employees551
DESCRIPTION

InPhonic, Inc. headquartered in Washington, D.C., is a leading online seller of wireless services and products. InPhonic sells these services and devices through websites that it creates and manages for online businesses, national retailers, member-based organizations and associations under their own brands. InPhonic also delivers a full range of MVNO and mobility solutions to enterprise clients through its Mobile Virtual Network Enablement (MVNE) platform. Among many awards in its history, InPhonic holds the distinction as #1 Company of the Year on the INC. 500 for 2004.


DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Virginia M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-19 Simplexity

Reston, Virginia, United States

Simplexity is an online seller of wireless services and products. Simplexity is based in Reston, Virginia.

Buy $20M