With 33 years of experience, and more than $30 billion of equity capital across its fund strategies, L Catterton is the largest global consumer-focused private equity firm. They specialize in fast-growing and disruptive digital brands. And when their Flagship Buyout Fund makes an investment (which is between $75 million and $500 million), the world takes notice. Although L Catterton specializes in fashion, they recently made a proprietary investment in Dragonfly Commerce.
Dragonfly acquires and scales standout e-commerce brands, priding itself on identifying unique brands that truly enrich people’s lives. The type of products sold is less important than the scalability of the brand. They shy away from generics, commodities, and clone companies, instead seeking out companies that customers love and can be taken to the next level.
Helmed by founders Jeremy Todd and Philip Butler MIT alumni and successful entrepreneurs, Dragonfly was created in 2019. They have found incredible success since their inception, raising over $500 million in debt and equity financing. L Catterton’s investment will allow them to accelerate their M&A processes, as well as attract top digital and brand talent.
“Dragonfly has created a remarkable platform with multiple levers – both organic and inorganic – to drive growth within a dynamic and rapidly-expanding environment,” said Nikhil Thukral, a Managing Partner in L Catterton’s Flagship Buyout Fund. “We admire Dragonfly’s thoughtful approach to brand-building and are impressed by the people, processes, and capabilities that have been built to date. We’re thrilled to have found like-minded partners in Philip and Jeremy as we look to actualize the massive opportunity we collectively see to reimagine how to build and scale consumer brands.”
The partnership between the two companies offers unique opportunities to each. L Catterton will be able to contribute their branding refinement expertise and connections, as Dragonfly shines with its high-tech expertise in data and back-end operations.
“Such magic is combining technology and their data knowledge with brand and brand development,” Thukral said. “We can bring in marketing talent and we can bring in branding talent.”
At Dragonfly, Butler and Todd have developed proprietary algorithms to guide their acquisition strategy of fast-growing consumer brands. These brands are incubated, licensed, and scaled at a rapid pace, focusing on their digital presence.
“This partnership and growth capital will inflect our rate and pace of growth by enabling us to build and acquire more scaled and impactful e-commerce brands as well as pursue world-class digital and brand talent,” said Philip Butler, MIT alumni CEO, and co-Founder of Dragonfly. “We couldn’t be more pleased to partner with the L Catterton team, who bring a stellar track record in brand investing, global insights, and capabilities, as well as deep operational expertise in our space.”
Boston-based law firm Nutter’s Corporate and Transactions Department served as legal counsel to Dragonfly Group Inc. in the investment from L Catterton.
For more information about Dragonfly, you can visit dragonflycommerce.com
For more information about L Catterton, you can visit lcatterton.com
For more information about Nutter, you can visit nutter.com
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