TSL Express Daily News

Altacrest Capital (“Altacrest”), a Dallas based private equity firm that invests in growing eCommerce brands, has recapitalized Big Blanket Co (“Big Blanket Co” or the “Company”; please see https://www.bigblanket.com/), a leading online seller of the biggest, best blankets in the world.

Based in Springfield, Missouri, Big Blanket Co offers directly to consumers over 40 styles, colors, patterns and textures of its luxurious, cozy, premium 10’ x 10’ blanket.   The Company’s blankets afford consumers – and their entire families - the coverage they need to achieve comfort in a big way.  Big Blanket Co’s products are original creations from its own in-house design team.   The Company sells the vast majority of its products from its proprietary website but also provides certain offerings for sale on Amazon.  The Company intends to launch additional cozy-themed premium products in the near term to appeal to Big Blanket Co’s engaged and loyal customer base. 

"We are incredibly proud of the team we’ve built at Big Blanket Co, the products we make, and the relationships we have with our customers. The growth we’ve seen since inception has been remarkable; however, our goals are substantially “bigger” than where we sit today.” said Founder and CEO, Bryan Simpson. “To bring our business to the next level – and achieve what I strongly believe to be our full potential – we embarked on a process to find a partner that could provide not only the capital to accelerate our growth, but also an understanding of brand, eCommerce, and both the day-to-day needs and strategic objectives of our growing business.  With the support of our advisors at TM Capital, Big Blanket Co attracted a number of qualified firms interested in partnering with our business, however, Altacrest’s experience, focus on customer-centric brands and eCommerce ultimately convinced us that they would be the best partner for us.  These qualities were non-negotiable – as I and the rest of our leadership team remain substantial shareholders in the Company going forward. "

"At Altacrest, we have 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 Big Blanket Co, we quickly realized the company has many of the qualities we seek,” said Brien Davis, Partner at Altacrest Capital. “The Company has a unique voice in the market – and is extremely well positioned to benefit from the continued shift in home goods from offline to online, as well as the continuing trend toward increased Millennial home ownership.  In short, we are excited to work with Bryan and his team to grow and develop the Big Blanket Co brand and achieve its full potential.

"Source Capital is pleased to partner with Altacrest and Big Blanket and support them with our one-stop debt and equity financing. True to our mission, we believe that the characteristics of Big Blanket fit well with our responsive solutions-driven capital.” said Joe Rodgers, Managing Director, Source Capital. Source provided both debt and equity to support the transaction.  CrossFirst Bank provided a credit facility in association with the transaction.

Russ Norwood, Founding Partner of Venturi Private Wealth, added “Our investment in Big Blanket Co, alongside Altacrest, is a great example of what we are trying to achieve with our dedicated private equity fund.  It’s a unique opportunity for our investors to gain exposure to higher return growth opportunities associated with eCommerce, with hands-on oversight from an experienced, eCommerce-focused private equity sponsor in Altacrest Capital.”

TM Capital served as exclusive financial advisor to Big Blanket Co and Husch Blackwell represented the Company as legal counsel. Altacrest was represented by McGuireWoods and BakerTilly. Please contact Brien Davis, Tim Laczkowski, or Rick Sukkar to discuss this transaction or other investment opportunities.

About Altacrest Capital (see https://www.altacrestcapital.com/)

Altacrest Capital is a Dallas based private investment firm focused on investing in consumer brands selling primarily through eCommerce. We utilize a hands-on approach. Beyond capital, we provide real world experience building brands. We collaborate with founders and management teams to grow the business together utilizing the benefits of our network and experiences. The brands we acquire have become emerging leaders in their category and, with appropriate strategy and execution, are poised for continued meaningful growth.

About Source Capital LLC (please see https://source-cap.com)

Source Capital, LLC is a private investment firm founded in 2002 which manages control equity investments and debt investments in mature, lower middle market U.S. companies across a range of industries. Source Capital's investment strategy targets healthy growing companies seeking a growth-oriented partner. Source Capital has completed investments across a broad selection of industries including: business services, niche manufacturing, technology services, transportation and logistics, consumer products & services, healthcare, and value-added distribution. Source Capital is headquartered in Atlanta, Georgia.

About Venturi Private Wealth (please see www.venturiwealth.com)

Venturi Private Wealth is a strategic wealth management and financial advisory firm for high net worth individuals. Currently Venturi has over $1.9 billion under management. Venturi also has a dedicated $100 million private equity fund.

About CrossFirst Bank (please see www.crossfirstbank.com)

CrossFirst is a full-service bank that offers a suite of products and services to businesses, professionals, individuals and families. CrossFirst is comprised of an experienced team of bankers united around a single purpose of serving people in extraordinary ways. For a complete listing of locations and services offered, visit crossfirstbank.com.

About TM Capital (please see https://www.tmcapital.com)

Founded in 1989, TM Capital is the client-first investment banking team advising industry-leading companies across North America and around the world. In everything we do, our professionals share a relentless commitment to engineering extraordinary outcomes with an unmatched standard of client care. Over the last three decades, we have completed more than 350 transactions with a combined value in excess of $25 billion. With offices in Atlanta, Boston and New York, our mission critical capabilities include: complex mergers and acquisitions; debt and equity financings; minority and majority recapitalizations; restructurings; and board advisory services. TM Capital is also a member of Oaklins, the world’s most experienced mid-market M&A advisor, with over 850 professionals and dedicated industry teams in more than 45 countries, having closed 1,700 transactions in the past five years.