Bombas Recapitalizes with Great Hill Partners
Bombas (or the "Company"), a leading and rapidly growing digitally-native brand focused on apparel basics, has completed a recapitalization with Great Hill Partners.
Bombas was founded by Dave Heath, Randy Goldberg, Aaron Wolk, and Andrew Heath in 2011 in New York, NY, with a focus on socks for a variety of activities to “support the hustle in everyone.” Bombas revolutionized the modern sock, designing an offering that delivers premium performance, unparalleled comfort, and timeless style. Bombas has grown rapidly via its e-commerce site, with best-in-class transaction and customer metrics. Moreover, the Company's core strategy revolves around a socially conscious giving model of donating one pair of socks to a homeless shelter for each pair sold, and Bombas recently crossed the nine million pairs sold and donated mark.
Bombas notably appeared on Shark Tank in 2014 and successfully partnered with Daymond John. The Company has also benefited from innovative and forward-thinking collaborations with brands and personalities including Gap, Shake Shack, Flywheel Sports, Muhammad Ali, and Hannah Teter.
Bombas will look to expand its reach in current and new markets as well as broaden its product offering, while leveraging Great Hill Partners' e-commerce expertise.
The Sage Group initiated the transaction and served as the exclusive financial advisor to Bombas.