TZP Group has acquired a majority stake in Kindred Bravely, a provider of maternity and nursing basics apparel. No financial terms were disclosed. Objective Capital Partners served as financial advisor to Kindred Bravely on the deal.
NEW YORK, April 12, 2021 /PRNewswire/ — TZP Group (“TZP”), a multi-strategy private equity firm, announced today that TZP Small Cap Partners II, L.P. has acquired a majority stake in Akerson Enterprises LLC d/b/a Kindred Bravely (“Kindred Bravely” or the “Company”), a leading 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,” said 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,” said 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 advisor to Kindred Bravely throughout this transaction.
About Kindred Bravely
Kindred Bravely is a digitally-native, direct-to-consumer maternity and breastfeeding basics apparel brand focused on providing comfortable and functional clothing, thoughtfully crafted for soon-to-be/new mothers. Founded in 2015 by husband and wife Deeanne Akerson and Garret Akerson, with a fully remote workforce since inception, Kindred Bravely is an award-winning brand built on comfort with five utility patents and specifically designing all products to maximize fit and functionality. Kindred Bravely products are available to consumers at www.kindredbravely.com.
About TZP Group
TZP Group, a multi-strategy private equity firm managing approximately $2.0 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies and TZP Strategies Acquisition Corp., is focused on control, growth equity and structured capital investments in business services and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit www.tzpgroup.com.