Bombas Recapitalised with Great Hill Partners
Bombas Recapitalised with Great Hill Partners
Transaction
Overview
Our Partner firm, The Sage Group, advised Bombas on its Partnership wtih Great Hill Partners.
Bombas is a leading and rapidly growing digitally-native brand focused on apparel basics that revolutionized the modern sock, designing an offering that delivers premium performance, unparalleled comfort, and timeless style. The company’s core strategy revolves around a socially conscious giving model, comprised of donating one pair of socks to a homeless shelter for each pair of socks it sells.
The company was founded in 2011 by Dave Heath, Randy Goldberg, Aaron Wolk, and Andrew Heath with a focus on socks to “support the hustle in everyone.” Since appearing on Shark Tank in 2014, Bombas has grown rapidly and profitability, with best-in-class e-commerce and customer metrics.
In 2017, Bombas engaged The Sage Group to explore its strategic options as result of inbound interest from a wide variety of investors. Ultimately, the company selected Great Hill Partners, an e-commerce and technology private equity fund based in Boston, as the winning bidder and completed a sale of 52% in 2018. Since the sale, Bombas has expanded into wholesale and extended its product offering to include two new categories, t-shirts and underwear.
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