MIAMI – February 10, 2016 – Cassel Salpeter & Co., a middle-market investment banking firm providing capital raising services as well as merger, acquisition, divestiture and corporate finance services, served as exclusive financial advisor and facilitated a capital raise to recapitalize Boxycharm, a monthly beauty box subscription service providing high-end beauty and cosmetic products. The amount of the deal, which closed on February 3, is undisclosed.
The team at Cassel Salpeter, led by Director Joseph “Joey” Smith and Vice President Philip Cassel, identified and approached KarpReilly, the private equity firm that provided the capital. Cassel Salpeter assisted Boxycharm through the closing of the transaction. The capital will help grow the business, expand the management team, and fund innovative marketing initiatives to support its mission to continue to provide high-quality beauty products.
“We recognized that Boxycharm is a high-growth company with a strong management team, and we were eager to get involved with a company of this caliber and support its next phase of growth,” Philip Cassel said. “We enjoyed working with KarpReilly and look forward to working with the team on future deals.”
The deal was completed on a tight timeline, with the Cassel Salpeter team going to market in early November 2015 and closing the deal in early February.
“We greatly appreciate Cassel Salpeter’s ability to understand our needs and move quickly to address them by finding the type of strategic partner we wanted: one that would offer more than just capital,” said Joe Martin, Founder & CEO of Boxycharm. “From our first conversation, KarpReilly understood the passion and vision for the future of the company and we knew that was the start of what will surely be a long and successful relationship.”
Added KarpReilly Co-founder Allan Karp: “KarpReilly is excited to partner with Joe and the Boxycharm team. We are very impressed with what they have been able to accomplish by focusing on delivering a best-in-class experience to their subscribers and look forward to supporting them in their continued growth.”
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 100 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