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Rockbridge Growth Equity Closes Sale of E-Retailer Purchasing Power to Flexpoint Ford.

MANews-(C)2009-2016

8 December 2016 - Detroit, Michigan-based private equity firm Rockbridge Growth Equity, LLC has sold Georgia-based specialty e-retailer Purchasing Power to Chicago, Illinois-based private equity firm Flexpoint Ford, LLC, the company said.

Founded in 2007, Rockbridge Growth Equity invests in financial and business services, consumer-direct marketing, and sports, media and entertainment industries.

Purchasing Power is a voluntary benefit company offering programmes for consumer products and services as well as providing financial tools and resources to improve employee financial wellness.

Lazard Middle Market LLC acted as the lead financial advisor and Jefferies LLC also served as a financial advisor to Purchasing Power.

Honigman Miller Schwartz and Cohn LLP provided legal counsel. Boston-based Falcon Investment Advisors partnered with Rockbridge Growth Equity on the initial acquisition of Purchasing Power.

Country: USA

Sector: Wholesale/Retail

Target: Purchasing Power

Buyer: Flexpoint Ford

Vendor: Rockbridge Growth Equity

Deal size in USD:

Type: Divestment

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Dec 8, 2016
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