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Private Equity

How Valence Aims to Provide Better Access and Funding for Black Founders & Executives




Mark Suster

“I gotta say it was a good day.”

Guy Primus, CEO of Valence


Private Equity

BrüMate Gets a Drinking Buddy




San Francisco Equity Partners (SFEP) has made a $20 million investment in BrüMate, a direct-to-consumer seller of insulated drinkware.

BrüMate’s patented products include wine tumblers, wine canteens, can and bottle coolers, barware, and coolers. The company was founded in 2016 by Dylan Jacob and is headquartered in Denver, Colorado. 

BrüMate was ranked as #14 on Inc. Magazine’s 2020 “Inc. 5,000” list of the fastest-growing companies in America.

SFEP operating partner Moiz Ali, the founder of direct-to-consumer personal care brand Native Deodorant, is investing in BrüMate alongside SFEP and he will work with Mr. Jacob and the company’s management team to expand the company’s digital marketing and e-commerce strategy. Mr. Ali sold Native in November 2017 to Procter & Gamble for $100 million. In January 2020, he stepped down as the CEO of Native.

“BrüMate is a truly unique brand that has developed a strong emotional connection with its consumer,” said Scott Potter, managing partner of SFEP. “We are committed to retaining the brand’s focus on innovation, product quality, and enhancing shared outdoor consumer experiences.”

SFEP is BrüMate’s first outside investor. “In taking on a capital partner for the first time, it was important for us to partner with a firm like SFEP with a proven history of scaling iconic consumer brands and executing strategic retail programs,” said Mr. Jacob. “We’re also thrilled to be working with Moiz, who has invaluable experience building one of the fastest-growing and most successful D2C consumer brands in history.”

San Francisco Equity Partners makes control and minority investments of $10 million to $30 million in consumer companies that have revenue of up to $100 million and EBITDA of up to $10 million. Consumer sectors of specific interest include apparel; beauty and personal care; food and beverage; health and wellness; household products; outdoor and recreation; pet care; and specialty manufacturing. The firm, as its name implies, is based in San Francisco.

New York City-based Threadstone Advisors was the financial advisor to BrüMate on this transaction.

Private Equity Professional | September 18, 2020

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Private Equity

Carlyle Acquires Electrostatic Sprayer Maker




The Carlyle Group has agreed to acquire Victory Innovations, a provider of electrostatic sprayers.

Victory’s cordless electrostatic spraying equipment is used to disinfect surfaces in businesses, transportation systems, hospitals, and schools. The company is headquartered near Minneapolis in Eden Prairie, Minnesota.

Electrostatic technology is used to maximize the attraction of chemical agents to objects that need to be cleaned or sanitized. Victory’s sprayers – which are chemical-agnostic – use patented technology to apply positive electric charges to cleaning agents to better enable them to envelop and bind to shadowed, vertical, and difficult-to-reach grounded surfaces. This technology allows for faster application times and reduced chemical usage.

Demand for Victory’s products have grown significantly since the company’s founding in 2014, and the company has experienced a dramatic increase in demand because of COVID-19. Schools and hospitals were among the first to adopt Victory’s technology, followed by an increasing number of other businesses and industries, from airlines and hotels to gyms and professional sports.

Currently, Victory’s products are sold in more than 40 countries and Carlyle plans to grow revenues through expansion in other global markets in Asia, Europe, Latin America, and Africa.

“Victory’s electrostatic sprayers are quickly becoming the new standard in infection control, in particular as businesses plan to reopen following the coronavirus pandemic,” said Chris Gurreri, a co-founder and the CEO of Victory. “Along with co-founders Kyle Wheaton and Cliff Wright, we’re pleased to partner with Carlyle, an investor with a record of success helping companies scale and expand globally. We look forward to working with them as we continue providing the tools that make our hospitals, schools, and communities safer.”

“As more and more businesses grasp the need to not just clean surfaces, but disinfect them, we see tremendous growth opportunity for Victory,” said Vipul Amin, a managing director at Carlyle. “Their highly effective technologies are more cost-effective, use less disinfectant and operate faster than alternative disinfecting methods. We look forward to working alongside the co-founders and the entire Victory team as we support their continued expansion.”

The Carlyle Group (NASDAQ: CG) invests worldwide in buyouts, growth capital, real estate, and leveraged finance. The firm, with $221 billion of assets under management, has more than 1,800 employees in 31 offices across six continents and is based in Washington DC.

Carlyle’s buy of Victory is being funded through Carlyle Partners VII LP and is expected to close by the end of this month.

Private Equity Professional | September 17, 2020

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Private Equity

Financial Sponsor Pro Joins BGL




Brown Gibbons Lang & Company (BGL) has hired Heather Mosbacher Reiner as a managing director in the firm’s financial sponsor coverage group. Ms. Reiner will be based in New York City.

Ms. Reiner has more than 20 years of experience in investment banking and joins BGL from William Blair where she was a director in its financial sponsor coverage group. Prior to William Blair, she was a managing director at Gordian Group, a New York City-based investment bank that specializes in complex or distressed financial advisory work.

“BGL is one of a very limited number of strong, growing M&A platforms in the marketplace today,” said Ms. Reiner. “The firm has a compelling brand, high-quality transactions, and an impressive infrastructure and culture, all of which positions the firm well for continued growth and success. I look forward to helping them expand their relationships with financial sponsors nationwide.”

“Heather’s extensive experience and relationships will elevate BGL’s level of service to the financial sponsor community and enhance communication around our firm’s experience and capabilities, both from a sector and product perspective,” said BGL in a released statement. “Her addition to the firm is a reflection of BGL’s successful sector strategy as well as the quality of its senior bankers.”

Ms. Reiner began her career in investment banking as an associate with Citibank and as a director with Credit Suisse. Ms. Reiner has her undergraduate degree in political science and pre-med from Colgate University.

Brown Gibbons Lang is a mid-market investment bank that specializes in mergers and acquisitions, divestitures, capital markets, financial restructurings, valuations, and fairness opinions. The firm was founded in 1989 and has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, Denver, and San Antonio.

Private Equity Professional | September 18, 2020

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