NEW YORK, Feb. 13, 2020 /PRNewswire/ -- For the second time
within a month, Brand Velocity Partners (BVP), the private equity
firm building its reputation on adding brand marketing muscle to
support the growth of consumer-related companies, today announces
it has acquired an industry leader.
Magma Products, the leading manufacturer and marketer of
high-quality cookware products designed for use in harsh marine and
outdoor environments, joins Original Footwear Company as the first
two companies benefitting from BVP's unique marketing
proposition.
BVP partners include private equity veterans Austin Ramos and Steve
Lebowitz, and two esteemed marketing principals –
Drew Sheinman and Larry Rothstein – who along with Rothstein's
full-service ad/marketing firm, Source Communications, are
nationally recognized for having designed and activated a broad
spectrum of consumer-facing programs and ventures for companies
such as Coca-Cola, MLB, and Subway. John Goldman, former leader of the sports
practice at Herrick, Feinstein LLP, is also a BVP partner.
About the acquisition of Magma, Sheinman said, "We are thrilled
to be able to apply BVP's differential – its marketing and
merchandising expertise – to this industry leader. The luxury
market is often under-served by marketers, and we think there is
extraordinary potential in marketing Magma's grills and cookware to
a broader audience."
Said Chris de Recat, Magma's
recently appointed chief executive officer, "Magma's reputation for
producing the highest quality products within our category will be
enhanced by our relationship with Brand Velocity Partners.
Leveraging BVP's brand marketing expertise, we will be introducing
new products to new segments in the months ahead. Stay
tuned."
Merion Investment Partners, a leading investor in the
lower-middle market, provided mezzanine debt and equity financing
to facilitate the transaction. Pacific Mercantile Bank, the
wholly-owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:
PMBC) and a trusted commercial bank headquartered in Southern California, provided a line of credit
to support Magma's ongoing working capital needs.
For more information on Magma, please visit
www.MagmaProducts.com.
About Brand Velocity Partners
Brand Velocity Partners is a private
equity firm that acquires and grows lower-middle
market consumer businesses through the application of its
exceptional brand marketing resources.
In partnership with BVP, Source's full-service agency develops
and executes marketing plans for BVP portfolio companies.
Portfolio companies also leverage BVP's vast sports and
entertainment networks to create accretive deals with athletes,
teams, leagues, celebrities, and other businesses. In
addition, BVP's collection of industry leaders (the "Accelerators")
from different facets of marketing and innovation (e.g., digital,
research, analytics, brand-building, influencer connectivity)
augment best-in-class solutions for BVP portfolio
companies.
Accelerators include Ian Schafer
(co-founder & CEO of Kindred, founder and former CEO of
award-winning global ad agency Deep Focus, and a world-recognized
social media expert); Sanjay Sood
(faculty chairman as well as professor of marketing and behavioral
decision making at UCLA's Anderson School of Management); Edwin Wong (senior vice president at Vox Media,
previous roles at Pinterest, Veoh, and Yahoo, and leading expert in
digital consumer behavior); and Whitney
Johnson (one of the 50 leading business thinkers in the
world as named by Thinkers50).
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SOURCE Brand Velocity Partners