San Francisco, CA, Menlo Park, CA, Bala Cynwyd, PA & Dallas, TX – May 16, 2023 – OrderMyGear (OMG) today announced that Wells Fargo Capital Finance and Accel-KKR Credit Partners provided debt financing to support its acquisition of BrightStores. Wells Fargo Capital Finance is a division of Wells Fargo that provides specialized lending solutions and Accel-KKR Credit Partners is a credit fund managed by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.
“OMG and BrightStores have a shared vision to be the best online store technology for group commerce, and our complementary solutions and expertise allow us to do exactly that,” said Leonid Rozkin, CEO of OMG. “Our market continues to evolve, and we’re excited to help our clients – promotional product distributors, apparel decorators, and team dealers – spend more time on the relationships with their organizations by building stores faster, driving more revenue, and reducing costs. Wells Fargo and Accel-KKR enabled us to bring these two great solutions together and we are excited about their continued collaboration to help us grow our resources even faster and drive more innovation for our clients and industry.”
OMG is a leading online store platform for selling custom branded merchandise to groups, and BrightStores is a leading provider of online company stores for promotional product distributors. The acquisition brings together two technology platforms in the team sporting goods and promotional products spaces. Together, the combined solutions will provide best-in-class technology designed specifically to meet the needs of promotional product distributors, apparel decorators, and team dealers as they grow their businesses online.
The addition of BrightStores enables OMG to offer a fully configurable, feature-rich online store solution to support complex, long-term use cases alongside OMG’s widely adopted online pop-up stores. With the combined expertise of OMG and BrightStores, businesses that sell custom branded merchandise and apparel to groups will have more opportunities to support a wide range of customers and programs with a single platform and partner. Clients will continue to leverage the online store solutions they use to serve customers today while also gaining access to additional online store capabilities to help them unlock new revenue opportunities. With these two industry-leading online store solutions, a client will never have to say no to an online store request again.
OMG is backed by Susquehanna Growth Equity.
“When deciding who to work with for our financing, speed, and certainty of execution were paramount,” said Ben Weinberg, Managing Director at Susquehanna Growth Equity. “Wells Fargo and Accel-KKR Credit Partners delivered on a seamless debt financing.”
“We are pleased to support OMG’s acquisition of BrightStores,” said Michael Ackad, Senior Managing Director and Head of Technology Finance at Wells Fargo Capital Finance. “The combination adds more vertical focus to an already strong product offering that is vital to the growth of its customers. We are excited to work together to achieve OMG’s vision of seamlessly and successfully fulfilling group orders.”
“OMG and BrightStores have a dominant position in the group commerce market,” said Samantha Shows, Managing Director at Accel-KKR. “This industry has nuances that require a specialized technology provider and we believe the combined platform will further differentiate OMG’s product offering. We look forward to our growing partnership with OMG as it delivers on this unified online store experience and drives further group commerce industry innovation.”
OrderMyGear (OMG) is a market-leading technology for promotional product distributors, apparel decorators, and team dealers to create custom branded, retail-like online stores for every customer – big or small. For more than 20 years, OMG has been on a mission to help businesses sell branded merchandise to groups with flexible, secure, and easy-to-use tools. OMG powers online stores for over 3,600 clients generating more than $4 billion in online sales. Learn more at www.ordermygear.com, or follow us on LinkedIn, Facebook, and Instagram.
About Susquehanna Growth Equity:
Susquehanna Growth Equity (SGE) invests in growth stage companies in the software, information services, internet and financial technology sectors. SGE is backed by a unique and patient source of capital which enables the firm to give management teams and entrepreneurs freedom and flexibility to maximize growth. The firm has invested over $2.5 billion dollars in over 75 companies during the past 15 years, and has portfolio companies across the US, Canada, Europe, and Israel.
About Wells Fargo:
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
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Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta and London. Visit accel-kkr.com to learn more.
About Accel-KKR Credit Partners:
Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institutionally-owned businesses. The debt capital is used to support acquisitions, dividends, shareholder buy-backs and growth investment. Accel-KKR Credit Partners has completed over 50 investments and deployed nearly $900 million in capital.