Company attracts financing for rapid growth and adds experienced retailer to board of directors
Baltimore, MD (PRWEB) October 13, 2015
Bambeco, Inc., the premier brand for designing, manufacturing, and retailing sustainable and eco-friendly home furnishings and décor, today announced it closed on a $20.5 million funding round led by ABS Capital Partners, a leading growth equity investor. The funds will be used to support the Company’s continued rapid growth and expansion, broaden the Company’s product offerings, and expand its distribution channels and partnerships. As a result of the financing, ABS Capital general partner Cal Wheaton will join Bambeco’s board of directors. Laurence Franklin, the former CEO of Tumi and Frette, former president of Coach, and who has served on the boards of several ABS Capital portfolio companies, will also join the board of directors.
“Our vision is to make sustainable living accessible and beautiful, and we know our products fill the needs of demanding consumers who want their homes to reflect both their style and values,” said Bambeco co-founder and CEO Susan Aplin. “We believe ‘going-green’ isn’t a passing trend, but rather a conscious way of life millions of consumers are choosing. This investment from ABS Capital allows us to continue to expand our product selection and reach more customers to meet this growing demand.”
Bambeco, headquartered in Baltimore, Maryland, delivers authentic, high-quality products and artisan creations—all with reclaimed, repurposed, renewable, recycled, natural, or organic materials. Bambeco brings sustainable living to every room of the home, with beautiful items available that meet the Company’s strict design and environmental standards. Today, the U.S. sustainable home product market is $12 billion and is expected to increase to $31 billion in 2020, with home furnishings representing approximately a third of the sustainable home product market, per IBIS World. Bambeco was named one of the Washington, DC region’s fastest growing companies.
The Company’s products are currently available on its e-commerce website, partner websites such as MyHabit and OneKingsLane, and through its store-in-store retail partners such as Whole Foods, Total Wine, and J. Crew.
“Bambeco is leading the charge in the rapidly expanding, multi-billion dollar sustainable home goods and décor market,” said Wheaton. “We were attracted to the vision and passion, combined with the deep retail and brand experience of the management team – a combination which is rare at a younger growth company. The Company’s multiple distribution channels provide attractive avenues for efficient expansion.”
“Bambeco has the all the makings of a solid global brand – beginning with its core values, authenticity, great design, and a genuine commitment to service,” said Franklin. “I believe the U.S. consumer is just beginning to realize the pleasure that goods that reflect strong social values and have a positive impact on the environment can bring – especially when you have great design aesthetic. This trend will only increase and those companies that operate their businesses in a genuinely sustainable way will have a real advantage.”
Bambeco is a thoroughly sustainable company, with every aspect of its business adhering to its core values. The Company builds and maintains relationships with factories and ensures that every step of the process is sustainable, from raw material extraction, to movement of materials, to packaging of the finished products. The Company plants a tree with every purchase to help mitigate climate change and partners with environmental organizations working to improve the environment. Bambeco’s mission is to create and deliver products that reduce the impact on the planet and its resources…to Change the World One Room at a Time.
Launched on Earth Day 2009, Bambeco is the premier brand for sustainable home goods. Every product is carefully designed to ensure it is made using responsible processes and materials that are reclaimed, repurposed, renewable, recycled, natural, or organic. Many of the products are artisan-made, handcrafted, and made in the US. The company’s mission is to bring the sustainability movement home and change the world, one room at a time. http://www.bambeco.com
About ABS Capital Partners
For 25 years, ABS Capital has been investing in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers and investors in the industries we invest in: business and education services, information and communications technology, and health care. This combination of experience and expertise means we have a laser-focus on the specific needs growth companies face as they look to get to the next level. By helping to transform over 110 companies through their most important stage of development, ABS continues to help unleash the potential for lasting growth. ABS Capital Partners. Here, we grow. For more information, visit http://www.abscapital.com
Suki Mulberg Altamirano
For ABS Capital Partners
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