Cassel Salpeter & Co. Represents Boxycharm in Successful Follow-on Investment by KarpReilly
Based on Boxycharm’s Success, Connecticut Private Equity Firm Exercises Option to Increase Stake in Boxycharm
MIAMI – November 14, 2016 – Cassel Salpeter & Co., a middle-market investment banking firm, today announced that Connecticut private equity firm KarpReilly LLC has invested additional capital in Boxycharm, an option in the successful deal completed by Cassel Salpeter earlier this year. Cassel Salpeter, which provides capital-raising services as well as merger, acquisition, divestiture and corporate finance services, served as exclusive financial advisor in both deals.
The money will be used for innovative marketing programs and other initiatives to reach new subscribers for Boxycharm, a monthly beauty box subscription service providing high-end beauty and cosmetic products. The amount of the deal, which closed on October 13, is undisclosed.
“We are thankful for Cassel Salpeter’s guidance in both of these significant deals, which effectively enable us to strengthen Boxycharm’s momentum and leadership positioning,” said Joe Martin, who will continue in his role as Boxycharm’s CEO. “Cassel Salpeter identified and brought on KarpReilly, a premier PE firm behind many of the nation’s biggest and most well-known consumer brands. It was a master-stroke, as our partnership with KarpReilly was immediately off to a great start.”
The team at Cassel Salpeter was led by Director Joseph “Joey” Smith and Vice President Philip Cassel, who assisted the Miami-based Boxycharm through the closings of both transactions.
“We are pleased to continue to work with the high-caliber professionals at Boxycharm and KarpReilly and support their mutual goals of maximizing Boxycharm’s phenomenal growth potential,” Philip Cassel said.
Added KarpReilly Principal Hank Spring: “We continue to be very impressed with what Joe and his team at Boxycharm have accomplished and are excited to be able to further support him and the company in delivering value and a best-in-class experience to their customers.”
Berger Singerman attorneys Daniel Lampert, David Black and Mitchell Goldberg represented Boxycharm. Ropes & Gray attorneys Daniel Evans, Darlyn Heckman and Michael Ross represented KarpReilly.
About Cassel Salpeter & Co.
Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com
Boxy Charm Inc. is the premier monthly beauty box subscription service, delivering 4-5 full-size and luxury travel-size products of well-known, popular, chic, and up-and-coming cosmetic brands for only $21 per month. For more information, please visit www.boxycharm.com
KarpReilly, LLC, is a private investment firm, founded by Allan Karp and Chris Reilly, whose primary mission is to partner with premier small- to mid-size growth companies and help them achieve their long-term vision. KarpReilly currently manages funds and affiliates with capital commitments in excess of $500 million. Over the past 15 years, the principals of KarpReilly have invested in, sat on the boards of and nurtured over 25 growth companies. For more information, please visit www.karpreilly.com