September 27, 2016 (Dallas, Texas) – – Renovo Capital, a leading middle market special situations focused private equity firm, announced the sale of Formation Brands, LLC (“Formation”) to Pacific Market International (“PMI”).
Formation will continue to be led by its founders in combination with PMI leadership. Terms of the transaction were not disclosed.
Headquartered in South San Francisco, Formation is a global leader in the concept creation, design and fulfillment of custom collections for private label housewares and independent gift markets primarily in the drinkware, tableware and barware categories.
Founded in 1994, Formation was acquired by Renovo Capital in conjunction with the founders in 2009. “The partnership between Renovo and the founders has yielded tremendous results over the last 6 years,” said Renovo Managing Director Scott Lavie.
Cascadia Capital served as financial advisor and Bryan Cave served as legal counsel to Renovo.
Renovo Capital, LLC (www.renovocapital.com) is a special situations private equity fund, currently investing out of Renovo Capital Fund II, LP, a $132 million committed capital fund. Renovo is focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-drive change. Renovo’s principals and extensive network of operating professionals have decades of experience delivering unique capital solutions and operational and strategic leadership to help solve complex situations and drive long term business value creation. Renovo Capital has offices in Dallas and Denver.
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