January 04, 2022

Barings Supports Comvest Partners’ Investment in Renovation Brands

Barings, one of the world’s leading investment management firms, announced that it has provided senior secured financing and an equity co-investment to support private equity firm Comvest Partners’ investment in Renovation Brands (the “Company”), a multi-brand e-Commerce platform for home improvement products. Founded in 2002, Renovation Brands is a pioneer in the online home improvement products sector, operating 11 distinct e-Commerce destinations in categories such as kitchen and bath, decorative finishes, and hearth and patio. The Company serves consumers and professionals, including builders, architects, designers, and property managers, for residential and commercial projects.

“Renovation Brands offers a wide variety of high quality home improvement products, in-house expert support, and a customized digital buying experience for both do-it-yourself consumers and professional clients. We are excited to be the financing partner of Renovation Brands in this new chapter of growth”, said Scott Chappell, Managing Director of Barings. “We remain focused on investing in high quality businesses led by innovative management teams and backed by top-tier financial sponsors.”

Tom Clark, Senior Partner at Comvest Partners, said, “Renovation Brands innovated the online home improvement buying experience in the categories it serves. We are thrilled to partner with the company's talented and visionary management team. Years ago they saw the great potential of a scalable family of category-leading home renovation brands sold directly to consumers and differentiated through product specialization, product expertise, and superior customer experience.”

Winston & Strawn served as legal counsel to Barings. Houlihan Lokey acted as financial advisor to Renovation Brands in connection with the transaction. Baird served as financial advisor and McDermott Will & Emery served as legal advisor to Comvest.
 

About Barings

Barings is a $387+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.

*Assets under management as of September 30, 2021
 

About Comvest Partners

Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the United States. Since its founding in 2000, Comvest Partners has invested over $7.1 billion. Today, Comvest Partners has approximately $6.5 billion in assets under management. Through its extensive capital resources and broad network of industry relationships, Comvest Partners offers companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com. 

Important Information

The document is for informational purposes only and is not an offer or solicitation for the purchase or sale of any financial instrument or service in any jurisdiction. The material herein was prepared without any consideration of the investment objectives, financial situation or particular needs of anyone who may receive it. This document is not, and must not be treated as, investment advice, an investment recommendation, investment research, or a recommendation about the suitability or appropriateness of any security, commodity, investment, or particular investment strategy, and must not be construed as a projection or prediction.

In making an investment decision, prospective investors must rely on their own examination of the merits and risks involved and before making any investment decision, it is recommended that prospective investors seek independent investment, legal, tax, accounting or other professional advice as appropriate.

Unless otherwise mentioned, the views contained in this document are those of Barings. These views are made in good faith in relation to the facts known at the time of preparation and are subject to change without notice. Individual portfolio management teams may hold different views than the views expressed herein and may make different investment decisions for different clients. Parts of this document may be based on information received from sources we believe to be reliable. Although every effort is taken to ensure that the information contained in this document is accurate, Barings makes no representation or warranty, express or implied, regarding the accuracy, completeness or adequacy of the information.

This document is issued in Australia by Barings Australia Pty Ltd.