The transaction will support the business as it continues to expand into multi-channel distribution and accelerate its growth to become the dominant player in the fastest-growing segments of the home appliance market.
Intrepid announced today that it acted as the exclusive financial advisor to Newair, a leading consumer appliances brand, on its recapitalization with Guardian Capital Partners, a Pennsylvania-based private equity firm specializing in the consumer space.
Founded in 2001 and headquartered in Cypress, Calif., Newair has emerged as the fastest-growing developer of smart design, small appliance products for the discerning consumer seeking style, performance, and quality. With a successful lineup of new product introductions, a growing universe of social influencers touting the merits of its offerings, and a proven and highly-repeatable digital marketing strategy delivering exceptional KPIs, Newair is positioned to become the category-defining brand in high-quality appliances for the home. The company’s products can be purchased online and through major home appliance retailers.
“I am thrilled to partner with Guardian to continue Newair’s evolution as a leading digitally native compact appliances company and advance the mission of being the most trusted brand in the space. Guardian’s depth of experience in the consumer products sector and the eCommerce space will provide significant resources to help us continue to evolve,” commented Luke Peters, Founder and Chief Executive Officer of Newair. “We are exceedingly pleased with the outcome that Intrepid delivered for Newair. Intrepid expertly guided us through the complexities of this process and were on top of every minute detail and deadline.”
“Luke and the management team have done an exceptional job establishing an authentic and niche brand supported by a powerful digital marketing engine,” said Brandon Quartararo, Managing Director and Head of the Digital Media practice at Intrepid. “Guardian Capital’s experience in the consumer space makes them ideally suited to partner with Luke and his team as they continue growing their omnichannel distribution network. We congratulate the Newair and Guardian teams and look forward to watching the partnership succeed in their next phase of growth.”
Proskauer Rose LLP served as the legal advisor to Newair, led by Will Chuchawat and Anh Tran.