RICHMOND, Va.--(BUSINESS WIRE)--Monroe Street Partners (“MSP”), a Chicago-based private equity firm, announced today that it has acquired a majority equity stake in Brandito (or the “Company”) in partnership with founder and President Michael Lovern, who has made a substantial reinvestment in the Company. Financial terms of the transaction were not disclosed.
Based in Richmond, VA, Brandito is a leading marketing services platform focused on promotional product distribution, warehousing, fulfillment, and breakthrough creative services. Under the leadership of its founder and President, Michael Lovern, Brandito has created a better buying experience for its customers by fostering a culture of authenticity and exceptional service. Brandito’s suite of services enables customers to develop and maximize their brand, improve employee engagement and retention, and bolster the corporate conference and trade show experience.
In conjunction with the transaction closing, Michael Lovern will maintain a material ownership stake in Brandito and continue to serve as the Company’s President. Lovern stated, “I am thrilled for the opportunity to partner with MSP to execute on our shared vision of accelerating growth. MSP’s strategic guidance, deep operating resources, and equity capital will allow Brandito to create substantial value for our customers and employees. We remain committed to our core values of authenticity, service and giving.”
Alexander Foshager, Managing Partner at MSP, noted, “In Brandito, we saw the opportunity to partner with an innovative, industry-leading platform led by a fantastic management team.” Foshager continued, “We look forward to partnering with Michael and the rest of the Brandito team to support the Company’s key organic and inorganic growth initiatives.”
Kenneth Mill, Managing Partner at MSP, noted, “Brandito’s management team has built a comprehensive platform of interconnected promotional product services perfectly suited to servicing large corporate clients. We are excited to help the Company capitalize on its leading position in a fragmented market.”
NorthCoast Mezzanine provided debt financing for the transaction and Ice Miller LLP served as legal counsel for MSP.
About Brandito
Founded in 2009, Brandito is a leading promotional products distributor that provides promotional product sourcing, customized e-commerce stores, warehousing and logistics, kitting and creative marketing services. Since inception, Brandito has been relentlessly committed to providing a better buying experience for its network of over 600 active clients. The Company has been consistently recognized by Inc. 5000 as one of the fastest growing companies in the United States. For more information on Brandito, please visit www.brandito.net.
About Monroe Street Partners
Based in Chicago, IL, MSP is an operationally focused investment firm formed to build a concentrated portfolio of family and founder-run businesses across the Business Services and Industrial sectors. MSP is led by Managing Partners Alexander Foshager and Kenneth Mill who founded MSP in 2022 after serving in Goldman Sachs’ Investment Banking Division. MSP’s objective is to partner with experienced operators to acquire, grow and improve businesses in the lower-middle market. The partnership with Brandito is MSP’s second platform investment. For more information about MSP, please visit www.monroestreet-partners.com.
