TZP Group acquires majority stake in Kindred Bravely
Multi-strategy private equity firm TZP Group's TZP Small Cap Partners II has acquired a majority stake in Akerson Enterprises (d/b/a Kindred Bravely), a provider of maternity and nursing basics apparel.
Launched in 2015 by Deeanne Akerson and Garret Akerson, Kindred Bravely is a digitally-native, direct-to-consumer brand focused on basics apparel for pregnant and nursing mothers. The Company's products span multiple categories, including bras, loungewear, underwear, and sleepwear, amongst others. Built on the solid foundation of providing comfort and functionality that supports and encourages "her" on her motherhood journey, Kindred Bravely has developed a devoted customer base and has rapidly scaled over the last several years.
"Kindred Bravely is an incredible brand with a loyal and growing customer base," says Dan Gaspar, partner at TZP. "We are excited to partner with the Akersons and the Kindred Bravely team as the Company continues its rapid growth trajectory."
"We are so glad to be partnering with TZP," says Deeanne Akerson, who along with her husband, Garret, will continue as co-CEOs and maintain a significant stake in the business. "We met with many of the professionals at TZP and were impressed by their 'Partner of Choice' culture and their ability to add value through their extensive experience in direct-to-consumer brands."
Dan Gaspar led the transaction for TZP with support from Michael Morgan, Sergina Lambert, Rodney Eshelman, Erin O'Brien Edwards and Jarrad Berman. Winston & Strawn LLP and Sheppard Mullin Richter & Hampton LLP provided legal counsel to TZP and the Company, respectively. Objective Capital Partners served as the exclusive financial adviser to Kindred Bravely throughout this transaction.