Topspin Consumer Partners Invests in Coop Home Goods
MAMARONECK, N.Y., August 17, 2021-- Topspin Consumer Partners, an operationally-driven private equity firm focused on the consumer sector, announced today that it has made an investment in Coop Home Goods ("Coop" or the "Company"). Coop is a leading digitally-native designer and marketer of branded adjustable memory-foam pillows and other bedding accessories, which are sold through the Company's website and various e-commerce marketplaces. Coop's flagship product has been the number one-ranked pillow by Consumer Reports for the past two years. Star Mountain Capital, LLC and BHI, the U.S division of Bank Hapoalim, provided a unitranche loan facility and a revolving credit facility.
Topspin is partnering with sibling founders, Jin and Kevin Chon, who will continue to oversee the business going forward. Jin and Kevin founded Coop in 2013 with the mission of improving sleep quality, since Kevin had struggled with severe sleep issues stemming from chronic neck and back pain. The management team brings extensive experience in developing innovative products with consumer-centric designs and in growing the business through e-commerce channels. Co-founder Jin Chon stated, "Kevin and I are excited to partner with Topspin. Topspin understands how to build and shape digital consumer brands. With their guidance and support, we believe Coop is well-positioned to capitalize on the significant growth opportunities that lie ahead."
Stephen Parks, Partner of Topspin, said, "We are thrilled to work alongside Jin and Kevin in continuing to grow Coop into a leading sleep and wellness brand. Their innovative, best-in-class products have disrupted the sleep category and generated an avid consumer following, driving the success of the brand. Coop's growth has been extraordinary, and the team has created a great foundation to build off of."
For more information on Coop Home Goods, please visit www.coophomegoods.com.
About Topspin Consumer Partners
Topspin Consumer Partners is a Mamaroneck, NY-based private equity firm that makes investments in established, profitable and fast-growing middle-market consumer businesses. The firm invests across a number of subverticals within consumer, including health & wellness, personal care & beauty, food & beverage, household goods, pet, and children's products. The Topspin team has considerable operational expertise in consumer products and services and collaborates with founder-owners and management teams to build businesses of varying stages and sizes. Further information on Topspin can be found at www.topspincp.com.
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