Founded in 2000 and headquartered in Weymouth, MA, Resident Essentials is a leading e-commerce/catalog company selling products to assisted living facilities and nursing home settings for senior residents. The Company’s product line consists of adaptive clothing, electronics, furniture and home healthcare equipment. Resident Essentials was solely owned by Jeff Garber, who purchased the Company from his stepfather in 2012 after previously working in the business.
The Company experienced rapid growth (averaging 40%/year) over the prior five years, during which time it made a number of strategic investments including adding product lines, overhauling the catalog, redesigning the website and expanding its catalog distribution. Jeff Garber was ready to move on to the next stage of his life and begin a new career. CMG was engaged to help find a value-added financial or strategic partner to provide liquidity, take advantage of significant market opportunities and accelerate growth.
After a competitive process involving multiple financial and strategic bidders, Garber elected to go with WILsquare Capital, a private equity firm based in St. Louis, MO with a focus on value added resale and catalog-based enterprises. Garber will remain CEO for a transition period before ultimately phasing out of the day-to-day operations of the business. “I am excited to see where this new partnership takes Resident Essentials in the next stage of the Company’s growth,” said Garber. He continued, “It was truly a pleasure to work with the whole team at Carter Morse & Goodrich throughout the transaction process.”
“Preparing Jeff to take his Company to market involved enhancing his data analytics and creating a vision for how to continue growing the business at its historic 40%+/year rate. We could not be happier to help Jeff find the outcome that he was looking for.” said Michael Carter, Managing Partner of CMG.
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