New York, NY (PRWEB) January 12, 2015
WebsiteClosers.com announced today the acquisition of its client, SwagsGalore.com, by Menrva Holdings, Inc., headquartered in the New York City area, a private equity holding company.
SwagsGalore.com is a 15 year old eCommerce web company specializing in the sale of curtains, valances, window hardware and window treatments. SwagsGalore.com was represented in the sale by Website Business Brokers, WebsiteClosers.com and the acquisition was underwritten by SBA Preferred Small Business Lender, Stearns Bank N.A. (http://www.stearnsbank.com). Jack Postregna, Vice President at Stearns Bank lead the funding effort on behalf of Stearns.
SwagsGalore is America’s Online Curtain Superstore and has been shipping orders since 1999; it has become a leader in the online sale of curtains and window accessories in the United States. Primarily built on a foundation of a single-channel distribution model, SwagsGalore offers a comprehensive range of products that are available Direct-to-Consumer through its upgraded, modern e-commerce storefront. For the 12 months ending November 30, 2014, SwagsGalore had net sales of over $2.0 million.
“SwagsGalore.com possesses a strong foothold in the online channel for the sale of curtains, valances and window treatments,” said Jason Guerrettaz, Executive Director of WebsiteOperators.com, an advisor in the transition stage of the transaction,” This acquisition will enable Menrva Holdings to build upon its Website Portfolio within a niche, dedicated home consumer products division, strengthen the company’s position in this dynamic market and create synergies for future acquisitions.”
SwagsGalore will continue to operate out of its current facilities outside of Scranton, Pennsylvania under the brand’s current team. “The previous owners developed the SwageGalore over the past 15 years nurturing its brand and I am thrilled that it will have a new home with Menrva," said Daryl Carlough, CEO of Menrva Holdings. “And with the help of WebsiteOperators and its proven track record of helping established companies achieve their full scale potential while staying true to the core of the brand, we will continue to grow upon the great foundation created by the original founders of SwagsGalore. We plan to make this a household name and I could not be more proud to begin this next chapter of this great brand.”
About Menrva Holdings, Inc.
Menrva Holdings, Inc. is a valued partner to companies during their "expansion stage," through direct acquisition or providing growth capital and working tirelessly alongside management to build successful, and sustainable enterprises. Menrva will continue to build upon its portfolio by focusing future acquisitions on digital companies with high margins and great growth potential.
WebsiteOperators.com is a website operation management company with offices in Idaho, Texas, South Carolina and Florida. It was founded in 2014 by serial entrepreneurs, Jason Guerrettaz and Ron Matheson, also co-founders of WebsiteClosers.com, a leading business brokerage focused on the sale of eCommerce Websites and Technology Companies.
About Stearns Bank, N.A.
Stearns Bank is a well-capitalized, independent bank based in Saint Cloud, Minnesota, specializing in nationwide SBA, USDA and conventional lending. Founded in 1912, CEO Norm Skalicky has led Stearns Bank since 1964. Stearns Bank continues to extend the foundation of excellence with bank locations in Minnesota, Arizona, Florida, and Georgia.
Tel: (570) 226-0123