Bain Capital Private Equity has acquired a majority stake in Daymon Worldwide, a provider of retail services. No financial terms were disclosed. BofA Merrill Lynch served as financial adviser to Bain Capital Private Equity on the transaction.
January 18, 2017, Hong Kong – Bain Capital Private Equity today announced the acquisition of a majority stake in Daymon Worldwide (“Daymon” or the “Company”), a global leader of retail services, from existing shareholders. Financial details of the private transaction are not available.
Established in 1970 with a heritage deeply rooted in private brands, Daymon has evolved over its 46-year history to become a leading retail service provider with strong global presence. Daymon’s expertise ranges from private brand development to strategy & branding, sourcing & logistics, retail merchandising services and consumer experience marketing. The company’s affiliated business units provide the flexibility to offer a fully integrated retail program, as well as tailored solutions for specific customer needs.
The global retail market continues to grow substantially, and is expected to reach US$28 trillion by 2019 at an average annual growth rate of 3.8%1. Meanwhile, Asia’s retail sales are expected to exceed US$10 trillion by 20182
There is currently a significant shortage of expertise in brand development, brand strategy, merchandising services, among other areas, which is needed to support the strong growth within Asia’s retail market.
“This transaction is a very positive development for our company, our employees and our clients,” said Jim Holbrook, CEO of Daymon. “Bain Capital Private Equity is one of the world’s leading private investment firms and has a proven track record for partnering with management teams to provide the resources and capital needed to grow great companies. The firm’s extensive experience in global consumer and retail industries, will be key as we work to accelerate the growth of our company, increase our service offerings and expand our services.”
Bain Capital Private Equity’s proven operational expertise and globally integrated platform will support the acceleration of Daymon’s global ambitions, enabling it to access increasing demand in Asia’s high growth markets. The firm also brings significant resources which present the company with opportunities to explore strategic acquisitions and accelerated organic growth. Since 1984, Bain Capital Private Equity has made approximately 300 investments that have generated industry-leading returns and has extensive experience in consumer and retail industries, having invested in companies like Canada Goose, Michael’s, TOMS, among many others.
“Daymon’s leading global market position and impressive track record of consistent revenue growth presented a very compelling opportunity for partnership. The company’s numerous achievements and accolades are a direct result of its talented leadership team, dedicated employees and their ability to set ambitious goals and execute accordingly,” said Jonathan Zhu, a Managing Director of Bain Capital. “We are thrilled to join forces with Daymon and look forward to working with them on the many growth opportunities this transaction will bring in the U.S. and Asia’s emerging economies.”
The company’s leadership team remains in place and will continue to oversee the day-to-day operations of the business.
BofA Merrill Lynch served as financial advisor to Bain Capital Private Equity for this transaction.
1 Analysis: Overview & Evolution of the Global Retail Industry
2 PWC: 2015-16 Outlook for the Retail and Consumer Products Sector in Asia
Daymon provides expert global retail strategies and services that make the cash register ring. We are global leaders in building successful private brands, and delivering high-impact experiential consumer marketing and in-store services. Our business network includes more than 100 major retailers and nearly 6,000 manufacturers in 50 countries. We currently handle more than 1,700 brands and approximately 165,000 individual SKUs globally. Founded in 1970, today we have more than 40,000 highly-trained and passionate associates, with offices on six continents. For more information, please visit www.daymon.com.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.