NEW YORK--(BUSINESS WIRE)--PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners, today announced that it has completed the sale of BuildASign to Cimpress N.V. for approximately $280 million (USD) in cash, subject to customary adjustments for the value of retained interest, net debt, working capital and transaction expenses. The sale of BuildASign, a vertically integrated U.S. web-to-print canvas wall décor and signage company, is the second exit from PWP Growth Equity’s Fund I. PWP Growth Equity acquired BuildASign in February 2015 in partnership with the original founders. Over PWP Growth Equity’s ownership period, BAS substantially grew unaudited revenue to approximately $129 million for the trailing twelve-month period ended August 31, 2018.
David Ferguson and Chip Baird, Co-Heads of PWP Growth Equity, said, “Since our initial investment in BuildASign over three years ago, the Company has grown rapidly by offering high-quality, custom web-to-print products at affordable prices to both individual consumers as well as small- and medium-sized businesses. During this time, we partnered alongside management to craft the strategic decisions underlying BuildASign’s remarkable expansion while continually making investments in people and systems to support long-term value creation. We are confident that Bryan Kranik and his team enter this next phase from a position of strength and will continue to build on their track record of growth and profitability for many years to come.”
Bryan Kranik, Chief Executive Officer of BuildASign, said, “We would like to thank PWP Growth Equity for their partnership, which allowed us to capitalize on the tremendous market opportunity and accelerate our business objectives. BuildASign was founded under a simple premise – empowering people to connect with those that matter most to them. We are pleased we have been able to deliver on this promise and we look forward to building on our accomplishments with Cimpress.”
About PWP Growth Equity
PWP Growth Equity is the middle market private equity group of Perella Weinberg Partners, managed by Chip Baird and David Ferguson. PWP Growth Equity manages private equity funds with aggregate commitments of $1.35 billion focused on growth-oriented, lower middle market companies, primarily in the United States, across the consumer, services, and industrial sectors. PWP Growth Equity seeks to partner with existing owners and management teams, providing both capital and experience in a tailored and flexible structure, to support the growth plans and vision for value creation. PWP Growth Equity investments include: The RealReal, 360training, Delphon Industries, Luna Grill, Hyphen Solutions, Black Bear Diner, MOD Pizza, MSA Security, and YouFit Health Clubs. For more information on PWP Growth Equity, please visit http://www.pwpgrowthequity.com.
About Perella Weinberg Partners
Perella Weinberg Partners is a leading independent advisory firm providing advisory and asset management solutions to a broad, global client base, including corporations, institutions and governments. Together with its affiliates, the Asset Management business has capital commitments and managed assets of approximately $14.6 billion. With approximately 650 employees, Perella Weinberg Partners maintains offices in New York, Houston, London, Abu Dhabi, Austin, Calgary, Chicago, Denver, Dubai, Los Angeles, and San Francisco. For more information on Perella Weinberg Partners, please visit http://www.pwpartners.com.
BuildASign is a leading online provider of canvas wall décor, signage and other large format products. Since the company's inception in 2005, BuildASign has set out to empower every individual and business to connect with those that matter most to them. Their focus is making it easy and affordable for people to share their message or tell their story with custom and personalized products. Over the past 12 years, the Austin, Texas-based company has grown to over 400 employees.