Altacrest Capital has acquired Austin, Texas-based Barton Watch Bands, a maker of watch bands. No financial terms were disclosed for the deal that was done in partnership with Route 2 Capital Partners.
November 13, 2018 – (Dallas, TX) – Altacrest Capital (“Altacrest”), a Dallas based private equity firm with a specialization in consumer products, has acquired Barton Watch Bands (“Barton”) www.bartonwatchbands.com, a producer of interchangeable watch bands.
Founded in 2015 and based in Austin, TX, Barton Watch Bands is a rapidly growing watch band brand that designs quick release straps which can be swapped in and out without tools and allow consumers the ability to customize a wide range of traditional and smart watches. Bands are available in a variety of styles, sizes, colors, and materials including canvas, leather, nylon, and silicone. Sales are completed exclusively via eCommerce.
Altacrest Capital financed this transaction in partnership with Route 2 Capital Partners (“R2CP”), Barton Founder Scott Herz and a group of equity investors. R2CP provided debt and equity to support the transaction.
“Barton has experienced strong growth since its inception and over the past year it became clear that the company would benefit from bringing in a capital partner with eCommerce expertise that could help take the business to the next level.,” said Scott Herz, Founder, Barton Watch Bands. “I focused on finding a sponsor that understood our brand, our culture and, most importantly, our customers. From our first meeting, Altacrest shared a vision to continue expanding our line of high quality and unique products that offer the fashion and function which has earned us a following of passionate customers. I believe with Altacrest and Route 2 involved, our customers will be the ultimate winners.”
“At Altacrest, we developed an investment thesis including a specific set of attributes we deem as critical to the success of growing eCommerce consumer brands. As we learned about Barton, we quickly realized the company has many of the qualities we are seeking in an investment.” said Brien Davis, Partner at Altacrest Capital. “We are excited to work with Scott to continue to grow and develop the Barton brand and offering.”
“Partnering with R2CP and our equity investors, we were able to close the transaction within 90 days of being introduced. The ability to execute a transaction in a shortened timeline reduced the uncertainty Scott had during the sale process, minimized the disruption for the business and allowed for a smooth ownership transition.” said Tim Laczkowski, Partner at Altacrest Capital.
“We want to speak with founders / owners of consumer brands who believe their Company has potential, but for any number of reasons they want a partner to help get to the next level. Our transaction with Scott and Barton is a great example of this type of partnership.” said Rick Sukkar, Partner at Altacrest Capital.
“Route 2 is pleased to support the Altacrest and Barton team with our one-stop debt and equity financing. True to our mission, we believe that the characteristics of Barton fit well with our responsive solutions-driven capital.” said Jay White, Managing Director, Route 2 Capital.
Please contact Tim Laczkowski, Rick Sukkar or Brien Davis to discuss this transaction or other investment opportunities.
About Altacrest Capital
Altacrest Capital is a Dallas based private investment firm making control investments in middle market companies with EBITDA of $2 million or greater. Industries of focus are Consumer Products and Business Services. We seek to invest in family-owned and owner-operated businesses through buyout, recapitalization or growth equity investments. We partner with management teams and operators to provide capital, expertise and relationships to promote growth. For more information, visit www.altacrestcapital.com.
About Route 2 Capital
R2CP is a private investment firm providing flexible junior capital solutions to lower middle market companies, primarily in the southern U.S. The firm’s partners possess over 100 years of combined investment, transactional, and operational experience. R2CP seeks to invest in established companies with minimum annual revenues and EBITDA of $10 million and $2 million, respectively, that generate predictable and profitable cash flows. R2CP’s investment proceeds will be used to execute growth and expansion plans, support business recapitalizations, and facilitate management buyouts. R2CP reviews opportunities in niche manufacturing, business and healthcare services, and specialty distribution. For more information, visit www.route2capital.com.