BLUE MOUNDS, Wis. (July 31, 2018) – Baker Tilly Capital, a boutique investment bank for middle-market businesses, successfully assisted American Provenance in raising $500,000 of equity funding from the Winnebago Seed Fund and Tru Fragrance & Beauty.
Wisconsin-based American Provenance, founded by Kyle LaFond, manufactures, packages and distributes a variety of natural and organic personal care products. Focused on providing high quality, all-natural items from the best ingredients available, the company produces deodorants, lip balms, after-shaves and other grooming products. American Provenance’s products are sold in more than 800 stores nationwide, while also selling direct to consumers through Amazon and its own website.
To capitalize on the company’s growth potential, the Baker Tilly Capital team assisted American Provenance throughout each phase of the capital raise process by helping explore strategic partnership opportunities, identifying targeted investors and establishing connections for the company to pursue.
The capital raise was led by the Winnebago Seed Fund, a venture capital fund based in Neenah, Wisconsin that partners with talented entrepreneurs in Wisconsin to rapidly grow their businesses. The remaining capital was funded by Chicago-based Tru Fragrance & Beauty, which markets perfumes, colognes and body care products. The funding will provide American Provenance with robust industry experience and resources to further catalyze the company’s growth moving forward.
American Provenance will utilize the funding to expand its production and warehousing capacities by opening a second facility in the third quarter of 2018 and execute an all-encompassing digital marketing campaign. Collectively, the investment will accelerate product development, generate increased inventory and establish same-day shipping capabilities.
“With Baker Tilly Capital’s advisory and support, our collective efforts proved to be a success and the company is well positioned to continue driving momentum and operational excellence,” LaFond said. “The capital infusion will help us strengthen the American Provenance brand, continue growing our strategic partnerships on a national level and accelerate growth within the personal care products industry.”
About Baker Tilly Capital, LLC
Baker Tilly Capital is a boutique investment bank specializing in mergers and acquisitions, capital sourcing, project finance and corporate finance advisory services. Backed by Baker Tilly Virchow Krause, LLP, a national accounting and advisory firm with significant industry expertise, Baker Tilly Capital offers value-added insights before, during and after the transaction.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,800 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals. The combined worldwide revenue of independent member firms is $3.4 billion.