New York, NY — FTD Companies, Inc. ("FTD"), one of the largest and most trusted online florist and gift companies in the world, was acquired by an affiliate of Nexus Capital Management LP ("Nexus"), a Los Angeles-based private equity firm. The acquisition follows Nexus' stalking horse bid for select assets of FTD through its bankruptcy process.
In connection with the acquisition of FTD, Legacy FocalPoint Securities, LLC, now B. Riley Securities ("B. Riley"), served as the exclusive financing advisor to Nexus, spearheading a rigorous and concise marketing effort to provide a debt financing solution to support the acquisition. B. Riley drove a process that culminated in several financing proposals that could provide incremental capacity through the bankruptcy process.
"We are very pleased with the speed and certainty the [B. Riley] team was able to provide for us on this complex transaction," said Daniel Flesh, Partner at Nexus. "[B. Riley] offered us the lender relationships, market knowledge and structuring expertise to deliver an attractive financing solution under a very tight timeline. We want to thank the [B. Riley] team for their ability to add certainty and a differentiated level of execution to this transaction."
"We are delighted to have orchestrated a timely and innovative financing solution for Nexus and their partners," said Michael Brill, Managing Director at B. Riley. "This closing represents the latest achievement for our rapidly growing financial sponsor coverage initiative."
About Nexus Capital Management
Nexus was formed in 2013 to make opportunistic investments in a broad range of companies and industries. Nexus employs a flexible investment mandate that focuses on long-term value creation by partnering with leading management teams and businesses. Nexus typically invests $20 - $150 million per transaction and has the ability to make larger commitments in selected circumstances. For more information about Nexus, please visit www.nexuslp.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com and focalpointllc.com.
Please contact Michael Brill, Managing Director, at 646-343-9848 or Joshua Osher, Director, at 646-343-9847 with any questions about this transaction.