OMMAX advised Cathay Capital on the acquisition of a minority share in SNOCKS
OMMAX advised Cathay Capital on the acquisition of a minority share in SNOCKS, a strongly growing D2C basic apparel brand in the DACH region. Over the last years, SNOCKS grew consistently and profitably as it caters with its basic apparel portfolio to the strong demand for sustainable and comfortable clothing.
OMMAX advised Cathay Capital with a commercial and digital due diligence analyzing digital market dynamics, the target company’s customer metrics and its digital capabilities. A thorough benchmarking exercise against key competitors illustrated SNOCKS’ high degree of digital maturity in areas like performance marketing across channels or a highly optimized customer experience.
Fabien Wesse, Managing Partner at Cathay Capital, added: “We are very happy to support SNOCKS’ teams and management in their ambition to develop across borders and expand on an organic level. The company benefits from a strong business model and brilliant team of experts that have demonstrated best-in-class online expertise, combined with marketing excellence over the years. We believe that our expertise on scaling consumer brands internationally will prove useful and we are delighted to contribute to making SNOCKS an even bigger success story.”
Florian Ewald, Partner at OMMAX, comments: “It was a pleasure to work with Cathay Capital and the management of SNOCKS throughout the due diligence process. SNOCKS has certainly shown a strong trajectory of organic growth in recent years and is poised to benefit from numerous further growth opportunities going forward thanks to its high competence in digital marketing channels.”
Do you want to know more about OMMAX’s experience in transaction advisory? Get in touch with Partner Florian Ewald: florian.ewald@ommax.de
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ABOUT CATHAY CAPITAL
Cathay Capital Group is a global investment firm supporting companies at all stages throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of globalization and sustainable transformation, Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its global platform connects people – from investors and entrepreneurs to management teams and leading corporations – across continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $4.2 billion in assets, has completed over 220 investments with the global reach and local expertise of its offices in Paris, Munich, New York, San Francisco, Shanghai, Shenzhen, Beijing and Singapore. For more information, please visit www.cathaycapital.com.
ABOUT SNOCKS
SNOCKS, founded in 2016 and headquartered in Mannheim, is a Germany-based D2C e-commerce brand specializing in basic apparel. With a focus on socks, underwear, and basic apparel they sell through their own web shop, Amazon and alternative marketplaces. Its recent growth has propelled it to a revenue of 32m€ in 2021 at a double-digit EBITDA margin. SNOCKS employs over 60 people, has over 5 million users in its own online store in Germany, sells across Europe via Amazon, and the SNOCKS group has over 150,000 followers on social media. For more information, please visit https://snocks.com/.
ABOUT OMMAX DIGITAL SOLUTIONS
OMMAX is a fast-growing digital strategy consultancy in Europe, specializing in digital M&A transactions, strategy consulting and sustainable digital value creation. Over the last 10 years, OMMAX realized 200+ M&A deals, with €15B+ deal value and 700+ international value creation projects for leading private equity firms and „Mittelstand“ companies in the areas of digital strategy, operational excellence, advanced data analytics, tech and automation. As a frontrunner for holistic data-driven strategy consulting and end-to-end execution of digital solutions, OMMAX is the leading consultancy within the European Private Equity and „Mittelstand“ sector, specialized as both the architect and the executor of digital solutions.