December 21, 2020
Buffalo, NY – Lorraine Capital, LLC (“Lorraine”), a Buffalo NY private equity firm, in partnership with Ironwood Capital, LLC (“Ironwood”) an Avon CT based subordinated debt fund, has acquired a controlling interest in Deal Partners, LLC (“Deal Partners”), a leading re-marketer of consumer products. More specifically, Deal Partners has been experiencing tremendous growth as it has partnered with top tier brands to re-market their returned, refurbished or end of life cycle products through eCommerce channels. Paramax Corporation, a Buffalo NY investment banking firm, served as the exclusive M&A advisor to Deal Partners in this transaction.
“The partnership with Lorraine is ideal for Deal Partners as we will have the resources to take advantage of the tremendous opportunities available to us in this fast growing and evolving market. This is an exciting time for our entire team, across the company footprint in Buffalo, Dallas and Miami, the sky really is the limit” said Kevin Hamann, CEO of Deal Partners.
“The Deal Partners opportunity could not be more tailor-made for Lorraine. The management team is very strong, they will retain a significant ownership in the Company post-closing, and it aligns well with some of Lorraine’s value add capabilities especially as it pertains to eCommerce. The founders, Kevin Hamann and Jeromy McVige, have built a wonderful company, and we cannot wait to partner with them in this next phase of growth” said William Maggio, managing partner with Lorraine.
About Deal Partners
Deal Partners is a fast-growing re-marketing company working with top tier brands to maximize their recovery rate on distressed, refurbished, or closeout merchandise by leveraging omni- channel, fully integrated strategies. For more information, please visit www.dealpartners.com
About Lorraine Capital
Lorraine Capital is a private equity firm dedicated to partnering with founders and management teams to achieve a shared future vision. Lorraine focuses its business activities primarily in the Great Lakes Region. For more information, please visit www.lorrainecapital.com
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