Two Sigma Impact and Avance Investment Management take over leading B2B e-commerce suppliers Wholesale Supply Plus
NEW YORK and INDEPENDENCE, Ohio, April 29, 2021 / PRNewswire / – Two Sigma Impact, the impact investing business of Two Sigma, and Avance Investment Management (“Avance”), a private equity firm that invests in established lower-middle-class service and consumer businesses, announced today the takeover of wholesale. known as Supplies Plus (“WSP” or the “Company”), a leading e-commerce provider of ingredients and supplies to commercial artisans who manufacture personal care, beauty and home fragrance products. The company will continue to be run by Sam Solomon, Chief Executive Officer of WSP, and the senior management team. Financial terms of the transaction were not disclosed.
WSP is an industry leading provider of high quality raw materials, consumables and packaging for soap, skin care and candle artisans. The company’s wide range of products and complementary support enable a growing artisan community to meet the growing consumer demand for authentic, local and clean personal products. WSP has attracted a large base of dedicated, returning customers and has seen organic sales growth across multiple economic cycles for more than 15 consecutive years.
“WSP was founded more than two decades ago to bring affordable and professional soap, skin care and candle making materials to aspiring commercial artisans. Today’s announcement is testament to the success of our customers and the ability of our team to meet the growing demand for high quality – quality ingredients and services. I couldn’t be more proud of the dedication and hard work of the WSP team, “said Mr. Solomon. “We have got to know the Two Sigma Impact and Avance teams very well over the past few months and are keen to join forces and further scale the business with their expertise and support.”
“We are very excited to be working with Sam, the management team and Avance to support WSP in its next phase of growth,” said Amar Doshi, Senior Principal at Two Sigma Impact. “The company is a recognized leader in this large and growing market with an unwavering commitment to being a responsible employer and promoting the success of its small business customers. We look forward to working with the company on a variety of growth initiatives, including improved ones.” Marketing through the use of data science and value-adding acquisitions. “
“WSP is the ideal first investment for our company,” said Luis Zaldivar, Co-founder and managing partner of Avance. “His leading market position and the ability for continued organic and inorganic growth are exemplary of the type of companies we would like to partner with. We look forward to working with Two Sigma Impact to support WSP, Sam and the entire management team in their continuation to meet the needs of their ever-growing, loyal customer base. ”
About Wholesale Supply Plus
WSP is an industry leading provider of high quality raw materials, consumables and packaging for soap, skin care and candle artisans. The company’s wide range of products and complementary support enable a growing artisan community to meet the growing consumer demand for authentic, local and clean personal products.
About Two Sigma Impact
Two Sigma Impact is a Two Sigma business. Its mission is to combine active, principled ownership and data science with the goal of generating superior returns and positive social outcomes. The Two Sigma Impact team is focused on the impact on the workforce – where it expects innovative and thoughtful investments in people to result in improved employee experience, productivity and long-term financial returns. As part of Two Sigma, Two Sigma Impact has access to expertise in data science, technology and a number of company specialties and seeks to support its portfolio companies with these resources.
About Avance Investment Management
Avance is a private equity firm with a passion for building great companies with talented management teams. Avance is primarily focused on thematic investments in services and consumers in the US, looking for attractive opportunities with growth catalysts and fragmented areas with consolidation opportunities. The Avance team has a long history of partnering with founding companies, industry executives and management teams and, through the application of STAGE. to create added value for every investment™ Value creation framework. Avance has offices in new York and Miami.
Avance media contact
Julie Hamilton
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
Two Sigma Impact media contact
Andrew McGloin
Two sigma
[email protected]
SOURCE Two Sigma
