Comvest Partners, an operationally-focused middle-market private investment firm, has entered a strategic investment in Renovation brands. Renovation is a multi-brand e-commerce platform for home improvement products. This represents the third D2C e-commerce platform in Comvest’s portfolio.
Renovation Brands operates a platform of 11 distinct e-commerce destinations including kitchen and bath, decorative finishes, and patio and hearth categories. Its specific products include cabinets, sinks, counters and vanities, tiles and fireplaces. The firm’s customers include consumers and professionals like builders, architects and property managers.
“Renovation Brands innovated the online home improvement buying experience in the categories it serves,” said Tom Clark, a senior partner at Comvest. “We are thrilled to partner with such a talented and visionary management team.”
“Comvest brings unique experience supporting management teams in building market-leading companies in industry segments rapidly transitioning to online purchasing,” added Mark Sieger, Renovation CEO. ‘We look forward to Comvest’s resources and significant operational and capital markets expertise in our next phase of expansion.”
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. Financing for the transaction was provided by Barings LLC.