Web Deals Direct LLC has completed the purchase of the SCHÖN™ and ABFLEX™ business lines with financing through East West Bancorp, Inc. GulfStar Group served as the exclusive financial advisor to Web Deals Direct throughout the transaction, which was completed on Dec. 23, 2019.
As an Amazon-focused consumer products retailer, Web Deals Direct is expanding and refining its brands and products to increase penetration in select product categories. Exclusive Web Deals Direct brands meet consumer needs with thoughtfully designed products for home and office, health and fitness, personal grooming and pets.
“The SCHÖN™ and ABFLEX™ brands are wonderful additions to our product mix,” said Web Deals Direct CEO Adam Feinberg. “The SCHÖN™ brand serves grooming needs and ABFLEX™ products facilitate fitness training, so they dovetail very nicely with our core focus.”
“GulfStar Group helped us complete this important brand acquisition and provided new avenues for growth and expansion,” said Web Deals Direct President Richard Bell. “Acquiring solid brands and products brings instant momentum to our operation.”
Web Deals Direct Chief Operating Officer Lisa Archi praised East West Bank and GulfStar representatives for their extensive efforts to understand the young company’s needs. “When a company sets out to get financing to expand through acquisitions, it is critical that the borrower and lender have a common understanding. We got that extra effort, and it was the key to completing the deal.”
“The Web Deals Direct story is one which clearly illustrates what can happen when the applied intelligence of a sophisticated and entrepreneurial management team intersects with the extraordinary commercial potential of the Amazon Marketplace platform,” said Roshan Gummattira, managing director of GulfStar. “In four short years, Web Deals Direct has raced from being a back-of-the-napkin start-up to becoming a significant commercial enterprise with 2019 volumes approaching 2MM units and astounding year-over-year growth characteristics.”
“We would like to congratulate Adam, Rich and Lisa for developing a visibly differentiated analytical and operational platform and for creating a company culture that rewards creative thinking, intense customer care and decisive action in the ultimate competitive market environment,” added Scott Winship, managing director of GulfStar. “We would also like to expressly acknowledge the strong efforts and foresight of the team at East West Bank. Their ability to quickly comprehend the Company’s operational complexities, high velocities and embedded growth opportunities was a difference maker in getting these transactions completed on a very short timeline.”