Via https://newsapi.org online business online marketing online business opportunities Custom Ink Welcomes New Investors Led by Great Hill Partners

Via https://newsapi.org  online business  online marketing  online business opportunities Custom Ink Welcomes New Investors Led by Great Hill Partners


Via https://newsapi.org online business online marketing online business opportunities

FAIRFAX, Va. & BOSTON–()–Custom Ink, the leader in custom apparel for groups, companies, and
communities, today announced it has entered into a definitive agreement
with an investor group led by Great Hill Partners, a leading
growth-oriented private equity firm, to recapitalize the company for its
next chapter of growth and innovation. Custom Ink’s current management
team will continue to lead the company, with Co-founder Marc Katz
remaining a major shareholder as well as Chairman & CEO. Custom Ink’s
current shareholders, including Revolution Growth and SWaN & Legend
Venture Partners, will exit their investments. Financial terms of the
private transaction were not disclosed.

Founded in 2000, Custom Ink helps people create a sense of belonging and
community within their schools, teams, businesses, charities, and other
groups through digitally-powered solutions for the design, ordering,
production, and delivery of customized apparel and other products. The
company’s strong brand, robust platform, and caring and capable team
have made it the leader in the custom apparel market with projected 2019
revenues exceeding $400 million. Custom Ink’s core values – The Golden
Rule, Ownership and Innovation – and purpose-driven culture have earned
it a perennial place on local and national “best places to work” lists
and fueled industry-leading customer satisfaction and employee
engagement.

“This is a really important milestone for Custom Ink,” said Katz. “It’s
a testament to the great work of our team over the past 19 years, and it
positions us well for the future. Our early investors were friends,
family, and angels who saw the potential in Custom Ink, and more recent
investors provided expertise and support to accelerate our growth. Now
they are passing the baton to our new partners, who also embrace our
values and vision. Great Hill in particular has an outstanding
track-record of enhancing ecommerce and direct-to-customer companies
that are similarly passionate about marketplace and workplace
excellence. I think they’re an ideal partner to help us continue to
build out our unique brand, offering, and platform.”

Great Hill Partners has deep experience investing in highly
differentiated business models across the consumer, e-commerce, and
retail sectors. The firm has a long history of backing native digital
and omni-channel brands, such as Wayfair, Bombas, The RealReal, and The
Shade Store.

“Custom Ink helped pioneer online customization and has created the
industry’s leading end-to-end digitally-powered platform for customized
apparel,” said Michael Kumin, a Managing Partner at Great Hill Partners.
“This is a terrific brand with outstanding operations in a
highly-fragmented category where we see huge growth potential for the
company. We’re thrilled to back Marc and the team and are excited to
help Custom Ink extend its market leadership, both organically and
inorganically.”

Ted Leonsis, co-founder and partner at Revolution Growth, said, “When
Revolution first invested in Custom Ink in 2013, we were impressed with
how the company was using technology, combined with a passion for
service, to revolutionize the custom apparel category and bring people
together. We saw power in Custom Ink’s community-driven growth model,
and this has proven to be a very successful investment. We’re proud of
our role at Custom Ink and think Great Hill will be an excellent partner
for the company’s next stage.”

Fred Schaufeld, SWaN co-founder and partner and longtime Custom Ink
adviser, will remain an investor and board member in a personal
capacity. Said Schaufeld, “Custom Ink is a wonderful story of
creativity, determination, and striving to do the right thing. This was
an excellent outcome for SWaN, and I couldn’t be more excited for Marc
and the team. It’s a great company that will continue to do great
things.”

The transaction is expected to close in May. Investing alongside Great
Hill is HarbourVest Partners, a global private markets asset manager.
GSO Capital Partners is providing committed debt financing as well as an
equity investment in connection with the transaction. Guggenheim
Securities LLC and DLA Piper advised Custom Ink on financial and legal
matters, respectively.

About Custom Ink

Custom
Ink
is the leader in custom apparel and accessories for groups,
events, and special occasions. The company helps group organizers bring
their families, friends, teammates, and colleagues together with
inspired designs they are proud to wear. Custom Ink makes the
customization process fun and easy with innovative design tools, caring
customer service, creative design inspiration and high-quality
merchandise. It also offersCustom
Ink Fundraising
, a platform to raise money and awareness for
charities and personal causes through the sale of custom t-shirts. Its
influencer-led custom apparel platform,Represent,
helps actors, athletes, musicians, thought leaders, and social media
icons create and sell limited-run t-shirts and merchandise to their
fans. Custom Ink is based in Fairfax, Virginia with other locations that
include Charlottesville, Virginia; Reno, Nevada; Dallas, Texas; and Los
Angeles, California.

About Great Hill Partners

Great Hill Partners is a private equity firm that has raised over $5
billion in commitments since inception to finance the expansion,
recapitalization, or acquisition of growth companies in a wide range of
sectors in business-to-consumer and business-to-business industries
including eCommerce, software, financial and healthcare technology,
digital media and internet infrastructure. For more information, visitwww.greathillpartners.com.

About HarbourVest

HarbourVest is an independent, global private markets asset manager with
more than 36 years of experience and more than $58 billion in assets
under management. The Firm’s powerful global platform offers clients
investment opportunities through primary fund investments, secondary
investments, and direct co-investments in commingled funds or separately
managed accounts. HarbourVest has more than 500 employees, including
more than 100 investment professionals across Asia, Europe, and the
Americas. This global team has committed more than $35 billion to
newly-formed funds, completed over $19 billion in secondary purchases,
and invested over $9 billion directly in operating companies. Partnering
with HarbourVest, clients have access to customized solutions,
longstanding relationships, actionable insights, and proven results.

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